New Working Tax Credits

With effect from 6 April 2012 the rules for couples with at least one child are changing. In most cases your joint working hours will need to be at least 24 hours per week rather than the original 16 hours per 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. However there are some exceptions to the new rules.

Please contact us if you have any queries in this matter.

Tax Evasion

HMRC have announced three new campaigns against Tax Evaders in the following areas:
  • Construction & Building, all trades but in particular electricians.
  • People who make money from direct selling, such as e-bay sellers etc.
  • Higher Rate Tax payers who have not completed Tax Returns.

The Tax Campaigns are intended to encourage people to own up about tax owed in return for favourable settlement terms.

If you, or anybody you know, would like to discuss this further then please contact Andrew.