Norwich  01603 766078  |  Aylsham  01263 735284 |  Lowestoft  01502 531100 |  London  020 374 01857

HMRC has begun sending the annual tax credit renewal packs to some 2.5 million tax credit claimants and is encouraging recipients to renew their tax credits claim online. The packs are being sent out over the next 6 weeks and should be with recipient... Read More

New R&D tax credit cap for SME’s

Posted by: Amy Patterson

There are two schemes for claiming R&D tax relief - the Small or Medium-sized Enterprise (SME) Scheme and the R&D Expenditure Credit (RDEC) Scheme for large companies. The SME scheme offers more generous reliefs to qualifying companies. The amount of... Read More

As part of the March 2021 Budget, the Chancellor announced that the temporary £20 weekly uplift in Universal Credits would continue for a further six months, until the end of September 2021. It was also confirmed that Working Tax Credit cl... Read More

Friday 31 July 2020 is the deadline day for families and individuals that receive tax credits to tell HMRC about any changes to their financial circumstances. As in previous years, there is likely to be a huge last-minute rush and it may be diff... Read More

Families and individuals that receive tax credits should ensure that they review their tax credit claims by 31 July 2020. Claimants who do not inform HMRC about relevant changes in their circumstances by the deadline date may have their payments stop... Read More

We would like to remind our readers that as part of the package of measures to tackle the Coronavirus outbreak, the basic element Working Tax Credit payments was increased to £3,040 for the 2020-21 tax year. This increase of £1,045 is&nb... Read More

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 mu... Read More

The basic element Working Tax Credit payment has been increased from an expected £1,995 to £3,040 for the 2020-21 tax year that commenced 6 April 2020. This is part of a package of measures to help support families coping with t... Read More

The government has announced that certain benefits will be increased as part of the package of measures to help households affected by COVID-19. This will see the standard rate of Universal Credit and Tax Credits increased by £20 a week (£... Read More

Families and individuals that receive tax credits should ensure that they renew their tax credit claims by 31 July 2019. Claimants who do not renew on-time may have their payments stopped. HMRC has sent tax credits renewal packs to tax credit claima... Read More

The Working Tax Credit (WTC) is designed to help taxpayers on low incomes by providing top-up payments and includes those who do not have children. There are extra amounts available for qualifying childcare expenses and working households in whi... Read More

Families and individuals that receive tax credits should ensure that they renew their tax credit claims by 31 July 2019. Claimants who do not renew on-time may have their payments stopped. HMRC has commenced sending tax credits renewal packs to... Read More