Working Tax Credits increased for one year
01/04/2020

As part of the package of measures to tackle the Coronavirus outbreak, the government has announced that the basic element Working Tax Credit payments will be increased from an expected £1,995 to £3,040 for the 2020-21 tax year starting on 6 April 2020. 

This annual increase of £1,045 is equivalent to £86.67 per month for one year from 6 April 2020. The actual amount that Working Tax Credits recipients will receive depends on their circumstances, including their level of household income.

If you claim Working Tax Credits, you don’t have to take any action or contact HMRC - the increase in your payments will start from 6 April 2020.

There have also been corresponding increases in Universal Credit available to many employed and self-employed workers on low incomes or who have become unemployed. This has seen the government increase the basic element and remove the minimum income floor in a move to benefit the self-employed. The minimum income floor won’t apply to anyone after 6 April 2020. This will last until the Coronavirus outbreak is over. 
 


Newsletter Signup

With our newsletter, you automatically receive our latest news by e-mail and get access to the archive including advanced search options!

» Sign up for the newsletter
» Login

Newsfeed Search


Accreditation

ICAEW White

xeroplat

Brighton

19 New Road
Brighton
East Sussex
BN1 1UF

Tel: 01273 321526
Fax: 01273 321565
[email protected]

Rustington

2-4 Ash Lane
Rustington
Sussex
BN16 3BZ

Tel: 01903 772244
Fax: 01903 771071
[email protected]