Child Tax Credit - Are You Eligible and How Much Can You Claim
Are You Eligible For The Child Tax Credit
Child Tax Credit - Do You Qualify And How Much Can You Claim?
In today's hectic world, raising children is sometimes hard, particularly if funds are tight. Children will always need something, whether it be clothing or the newest video game. Figuring out how to find enough money can sometimes be next to impossible. However, there are government benefits that are available to low income and struggling households that may help relieve the stress in these situations.
One of these benefit entitlements is the Child Tax Credit, which was created and intended in order to help families and carers of college students and school age children to ensure that the children will have what they need. This will be extremely helpful to low income households who have kids younger than 16 or a young person attending school full time.
The Child Tax Credit is based upon the amount of children in your family and also takes into account the total household income. Additionally with receiving a tax credit for the family, you can also claim a specific amount ofchild benefit for each child who is living in your care. You do not have to be related to the child or children, but you do need to be the primary carer and the children must reside under your roof.
Claiming the Child Tax Credit is really quite simple. When you initially apply, you will have to get a claim pack. You will also need to provide confirmation of your identity, which can easily be done by providing your national insurance number. Once you're approved, your Child Tax Credit can be renewed by phone or mail. This must be done on a yearly basis and you will receive notification when it is time for you to renew. It is important for you to remember to report any changes in your circumstances including any kind of change in income and household size. If you do not report a change, you might end up having to pay back the tax credits that you have received.
You can receive Child Tax Credits in a number of ways. You can either receive the child allowance monthly or weekly, and it can be transferred into any bank account that you indicate. The Child Tax Credit has to be transferred to the primary carer's account and can come as a cheque, which is mailed to the address listed on your application. The child benefit can be claimed additionally with the Working Tax Credit, which is a government benefit if either you or your partner are employed.
In the event you are denied these benefit entitlements, or do not agree with your tax credit calculation, you have to right to appeal against a tax credit decision. Keep in mind, however, that this has to be done within 30 days of your denial notification.
About the Author
Evan Felt is a content writer for http://www.uk-benefits.org who researches benefit and support programs available to UK citizens. Find important advice and information on child benefits, as well as UK grants, allowances and other benefits.
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