On 6 April this year, the new ‘Child Tax Credit’ replaced the old ‘Children’s Tax Credit’. The new credit may be available to you if you have responsibility for one or more children. If you have not yet made a claim, time is running out. Claims made after 5 July 2003 will mean that some of the current year’s credit is lost because only a limited period of backdating is possible.
Even where there is uncertainty as to final income levels in 2003/04, and therefore availability of the credit, a protective claim should be considered.
Further information can be found at www.taxcredits.inlandrevenue.gov.uk