The working tax credit is a United Kingdom program that is designed to help build up or supplement your income if you do not make enough money where you work or if you receive a low income. Though some people are still eligible to receive the working tax credit, it is being replaced by the Universal Credit for the majority of people. Whether or not you get the working tax credit depends entirely on how many hours you work each week and get paid for, your income from where you work, and your circumstances.
For most people, the Universal Credit has replaced the working tax credit for the most part and you can only make a new claim for this program if you are already signed up for and receiving the severe disability premium, or you were able to get it in the last month but are still eligible to receive it again.
If you are eligible for the program and enrolled in it, there are a few things that you will receive. The first thing you will get is the basic amount of benefits and if you qualify for them, you will also get what is known as “elements” or extra benefits added on top. How much you receive in total depends fully on things like your personal circumstances and how much you bring home in income. The basic amount that you will get is 1,960 pounds a year.
If you do are in need if financial assistance, meet all of the pre-requisites, and want to try to start a claim to receive the working tax credit, you can do so by calling the HM Revenue and Customs at the working tax credit number to get started with an agent who will walk you through the process. It can take a month to five weeks for your new claim to be processed, but you can put in a claim after starting a new job at any point in the year
If you are already receiving benefits like those from the Jobseeker’s Allowance program or Income Support, you can usually start a claim seven days before you even start a new job.
When you go to make your claim, you will be asked for some vital information that your claim cannot be processed without. This will include an estimate of how much you make, your national insurance number if that applies to you, the last year of your income, any other benefits that you receive, any childcare expenses that you have, and proof of how many hours you work per week.
This is a wonderful supplemental income program that will help you fill in the gaps and live a little easier with money on top of your income.