Taxman seeks to top up your wages
1 min read
Lower paid older workers, especially those who have seen their income drop are among those said by HM Revenue and Customs (HMRC) may be missing out on a cash increase in their income simply because they assume they are not entitled to Working Tax Credit (WTC).
HMRC said today (7 October) that it has set up an online calculator enabling anyone who thinks they might be eligible for WTC to quickly find out for sure whether they are likely to be entitled - and by how much: www.hmrc.gov.uk/taxcredits/start/who-qualifies/overview/quick-questionnaire.htm.
The average amount of WTC unclaimed is £1,600 a year so some people will qualify for significantly more, says HMRC.
Working Tax Credit is payable to people who are in work and on a low income, and they don't have to have children to qualify.
Many people who fail to claim are:
• in the 50-plus age group,
• have experienced a fall in income.
The Financial Secretary to the Treasury, Stephen Timms, said: "Tax credits are already benefiting hundreds of thousands of families without children. We recognise that these are challenging times and Working Tax Credits are there to help. I would urge anyone who thinks they might be entitled to this money to go on-line and find out for sure."
Anyone with queries about tax credits can check online at www.hmrc.gov.uk/taxcredits or, to make a claim, call the Helpline on 0845 302 1415.
