How Much is Child Tax Credit?
UK government has the social support program for quite a while now. No matter how many changes their tax credit system underwent its primary objective is still supporting those families and individuals that have lower than average income. The prerequisites for getting both child and the working tax credit are different in between those two, however are both unchangeable. The most commonly question as to how much is the child tax credit or the working one cannot be answered precisely since it relies heavily on the personal circumstances of the person submitting the form.
How Much is Child Tax Credit
As it was previously mentioned child tax credit cannot be calculated with the absolute precision, however it can be estimated if certain information is provided. After you figured out how to claim child tax credit you will be required to provide information like your household yearly income, you marital status, amount of hours that you work, if you have any disabilities obstructing you from finding a job and also information about a child or children such as how many children you have, how many of them are on a disability and how much you pay for the childcare if you pay for it at all.
How to Claim Child Tax Credit
According to the latest information as of today any family can be eligible for the child tax credit if the total household earnings are not higher than £58,175 and £66,350 if the child is under 1 year old. Apart from the income threshold a child or a young adult must not be older than 19 years old and in certain circumstances no older than 19 years old if he or she is still going through the full time education. New born babies must be registered no later than 3 months after it was born otherwise you may miss out on some benefits.
Child Tax Credit Calculator and the Ways to Arrange a Claim
Child tax Credit Calculator helps calculating the approximate amount that will be given out per year. They are freely available online separately free of charge or integrated on websites of childcare and such. After the certain amount was amassed you will be able to know how much child tax credit card is prior to applying personal circumstances to it. After that you will need to call Tax Credits help line and receive the form, which in turn must be sent by post. Certain documentation will be required to verify your income or a proof of disability of child or the person claiming the child tax credit included with the form. To make sure that everything is in order it is highly recommended to contact the help line before even using the child tax credit calculator.