Tax Credits

A guide to the new tax year 2012-13

The new tax year begins tomorrow, (Friday April 6th 2012) which means employers, employees, pensioners and families will all be affected by rate, allowance and tax changes.

Tax and benefits reforms 'to hit families'

Average family £500 worse off through tax changes, warns IFS

Millions of families across the UK stand to lose more than £500 a year under reforms to the tax system which start tomorrow, according to a leading think tank.

Millions affected by tax and benefits shake-up for new tax year

A series of changes to the tax and benefits system announced by the Government over the past year and a half will finally come into force on Friday.

Working families are being urged to contact HMRC over tax credits

Contact HMRC or your tax credits might stop, group warns

Parents are being urged to contact the tax office to ensure they don’t lose out on working tax credits once new rules come into effect from April 6.

Ed Balls: Top rate pensions tax relief should be cut

Labour: End top flight tax breaks and help squeezed families

Labour is pressing the Chancellor to provide more support for “squeezed” average income families who are struggling with pay freezes and rising living costs.

Brits ‘gifting £12.6bn to the taxman this year’

Taxpayers are set to waste an average of £421 in tax in 2012, adding up to a hefty £12.6 billion in unnecessary tax payments across the UK, new figures suggest.

Britons will miss out on £8.5 billion this year in unclaimed benefits, unbiased.co.uk has said

Brits to miss out on £8.5bn in benefits, report says

Families and individuals in the UK will give up a total of £8.5 billion in benefits by not claiming their full entitlement, a study has said.

Tax credit renewal deadline checklist

Chas Roy-Chowdhury Head of taxation at ACCA offers a full guide to all you need to know in the run-up to the deadline on July 31st for renewing tax credit claims.

Citizens Advice has warned everyone who has claimed tax credits over the past year to check and act on their renewal forms as soon as possible

Citizens Advice: Return tax credit paperwork as soon as possible

The deadline for people to return their tax credit paperwork is less than a fortnight away and Citizens Advice has warned against returning it late.

Families are feeling the squeeze of rising prices and changes to tax credits and child benefit, a report has shown

Half a million families see cost of living rise 24%

A new report from the Joseph Rowntree Foundation has shown thousands of British families need to earn substantially more than last year to maintain a minimum standard of living.

One-month warning on renewing tax credit claims

HMRC has told Brits to renew their tax credit claims promptly in order to ensure their information is correct and their payments uninterrupted.

HMRC reminds claimants of tax credits renewal deadline

Tax credit renewal date on horizon

HMRC warns tax credit claimants to return their renewal forms in time to keep their payments coming.

Tax cuts could boost economy and family finances

The future of the UK economy could be built on tax cuts, rather than rises.

£1bn Tax credit overpayments, but £3.6bn still unclaimed

The taxman cut the amount of tax credit overpayments by £700 million in the last year, but £3.6 billion is going unclaimed.

The Treasury has unveiled all of the tax changes included in the pre-Budget report

Pre-Budget report in detail - tax changes

Following Gordon Brown's pre-Budget report speech, the Treasury has released a full break-down of the tax changes that it involves.

Chancellor Gordon Brown issued his pre-Budget report today

Pre-Budget report 2005: Implications

Gordon Brown today issued his pre-Budget report announcing planned changes to tax, housing, and allowances. MyFinances brings you a roundup of the key implications for your money.