Property News · October 20, 2015

Tax credits: what are they and who benefits?


As Labour calls on Tory MPs to vote against George Osborne’s proposals to change tax credits, we explore how they are currently set upTax credits are a mechanism to redistribute income to people on lower wages. There are two types: child tax credits, paid to families with children; and working tax credits, paid to people in work on lower incomes.More than 70% of families on tax credits are in work. All the 1.4 million out-of-work families claiming tax credits have children and receive child tax credits only. Continue reading…

Source : theguardian.com
Read more…Tax credits: what are they and who benefits?

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