Friday 22 January 2016

Tax credits

Child tax credit is a system which takes in to account the income levels of families with children and the low income generated by some of the working members of a family. It takes into account the number of children as well as their ages when assessing the eligibility requirements. It should be remembered that, child tax credit is separate from other child benefits which is on offer and there is a specific eligibility criteria for a family or a person to be eligible for this system of compensation.

Residency requirements

A person needs to be a resident in UK, Ireland, Wales or Scotland and should be above the age of 16 years. But, people who are citizens of European Economic Area (EEA) who lives in UK are also eligible for this scheme along with people from these member states and Switzerland who receives some sort of public funding from UK such as pension or job seekers allowance. Apart from these, Crown workers who are posted elsewhere are also eligible for this scheme.

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