What are tax credits?
Tax credits are a form of benefit administered by HM Revenue and Customs. They provide financial support for families and people in full-time, low paid work. There are two types of tax credit:
- Working Tax Credit is for people in low-paid full-time work. How much you get depends on your income. You do not need to have children to qualify. You may also be able to get help towards the cost of childcare included
- Child Tax Credit is paid to parents with children under the age of 20. You can claim whether you work or not.