19 March 2012
Tax Credits regulations published
Back in February we announced that HMRC had published draft regulations to bring in changes from April 2012 announced in the June 2010 emergency Budget and the October 2010 Comprehenive Spending Review. Those regulations are now in their final form and have been laid in Parliament. Alongside the miscellaneous amendment regulations, HMRC have also published the up-rating regulations for 2012-2013.
One noticeable change from the draft regulations is the inclusion of an exception for carers which means they will continue to qualify for WTC by working at least 16 hours per week from April 2012 rather than being subject to the new 24 hour requirement for most other couples with children. The exception also extends to the childcare element. Further details of this change can be found on the LITRG website.
We will be updating the tax credits policy section of our website over the coming week to give further information about the changes and examples of how they will impact on claimants. You can view the original commentary on the changes in the tax credits future policy section.