The government has announced that Working Tax Credits payments will be increased from 6 April 2020.
As part of several measures to support the country during the COVID-19 pandemic, the basic element of Working Tax Credit has been increased by £1,045 to £3,040 from 6 April 2020 until 5 April 2021.
The amount a claimant or household will benefit from will depend on their circumstances, including their level of household income. But the increase could mean up to an extra £20 each week.
The government is also upgrading Child Benefit, other tax credit rates and thresholds, and Guardian’s Allowance by 1.7% with effect from 6 April 2020.
These increases came into effect on April 6th, but individual payment dates will vary depending on circumstances.
You don’t have to take any action, and you will receive any increased payments automatically.
A full list of tax credits, child benefit and Guardian’s allowance can be found:
Please get in contact with us if you have any questions over this on accounts@optps.co.uk or call 01793 538198
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