INCREASE IN WORKING TAX CREDITS

2020-04-09T21:16:48+01:00April 9th, 2020|Categories: Blog, COVID-19, Personal Finance|Tags: , , |

The government has announced that Working Tax Credits payments will be increased from 6 April 2020. As part of a number of measures to support the country during the COVID-19 pandemic, the basic element of Working Tax Credit has been increased by £1,045 to £3,040 from 6 April 2020 until 5 April 2021. The amount a claimant or household will benefit from will depend on their circumstances, including their level of household income. But the increase could mean up to an extra £20 each week. The government is also uprating Child Benefit, other tax credits rates and thresholds, and [...]