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Minimum hours for Tax Credits

It has been confirmed that the minimum weekly hours requirement to be eligible for tax credits has been temporarily suspended because of coronavirus. Tax Credits can provide top-up payments to those on low incomes.

Under normal circumstances, you must work a certain number of hours a week to qualify for these credits. If you are working reduced hours due to coronavirus or as a result of being furloughed your tax credits payments will be unaffected if you are still employed or self-employed.

HMRC will treat you as working your normal hours until the Job Retention Scheme and Self-Employment Income Support Scheme close, even if you are not using either scheme.

You should still notify HMRC of any other changes in income, childcare and hours in the normal way. You must tell HMRC if you (or your partner) lose your job, are made redundant or cease trading.

Source: HM Revenue & Customs Wed, 06 May 2020 05:00:00 +0100

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Some accountancy websites also provide pages and pages of tax information, helpsheets, etc. We prefer to give clients personally tailored advice. So, if you want details of tax rates and allowances just go to the HMRC website on which you should find what you’re looking for. If you need more individual advice please contact us.

Below are links to websites you may find of interest, but as we like to support our local community and clients, we have included links to websites that may be of interest:

HMRC
FT
BBC
VEALE WASBROUGH VIZARDS
CESP
PRACTICE INDEX
SIMCOMM ACADEMY

More Local:
FOOTPLATE EXPERIENCE
ANGLEBURY PRESS
OFFCAMBER.CO.UK