Working Tax Credits changes from April
In Prime Minister's Questions, the PM stated, in regards to hourly requirement for WTC going up from 16 to 24, "...it is only right to say to couples that between them they should work 24 hours - THAT IS, 12 HOURS EACH. If that is the case, and they do that, they will be better off."
HMRC guidance say that "From 6 April 2012, the rules for couples with at least one child are changing. In most cases, to qualify for Working Tax Credit your joint working hours will need to be at least 24 a week.
This will mean:
if you both work your joint weekly hours must be at least 24, WITH ONE OF YOU WORKING AT LEAST 16 HOURS A WEEK
if only one of you works, that person must be working at least 24 hours a week
If neither of these apply, your Working Tax Credit will stop from 6 April 2012."
So if the PM gets it wrong (in PMQ, no less) what's expected from the plebs?
I wonder if there'll be appeal rights for a couple both on 12 hours with tax credits stopping, by quoting the PM.
- What do young accountants know that you don't? 1,953 9
- Company limited by guarantee having only 1 member 112 3
- Are any of you members of The Institute of Financial Accountants - Accountnats certificate 468 5
- flat rate scheme 141 3
- capital allowances - Demolition of a building 162 2
- Limited by Guarantee - Members 78 1
- VAT refund 312 3
- Are you going to Tick and Bash on 21 May? 1,283 37
- Turnover on a tax return 547 12
- incorrect old p60 563 15
- Company to buy shareholder land 120 4
- Deferred income - financial concern no recognised turnover CT600 182 1
- Posting Corp Tax to Sage Line 50 151 1
- Special dividends & CGT 203 1
- Director's Earnings when Drawing from Goodwill profit from Sole Trading Company sale to Ltd Company 196 1
- Networking 367 5
- Bank Interest Held by Solicitor During Divorce 279 2
- US company hiring UK citizens in UK 306 4
- What VAT to reclaim on van purchased on HP? 339 5
- Professional coaching claimable? 297 2