Child Tax Credit

The majority of families who have children qualify for child tax credit, so if you have children and are not currently receiving credit then this is definitely something that you should look into. The government website on this suggests that nine out of ten families qualify, so 90% is a very significant number clearly.

The amount of tax credits you get is a common question, and in fact it varies based on several factors.

These factors include how many children that qualify you have - clearly if you have three kids then you get more than if you just had one, as the costs associated will increase pro rata

Another relevant factor is if any of the children are disabled, and the third factor that relates to the matter is how much you yourself earn; the more you earn the more reasonable it seems to be to suggest that the less you will need in order to be able to give the children a good quality of life and ensure that their basic needs are met.

Historically this credit has always been associated with aprents, but in fact the main person with responsibility for the child is who is eligible. If the child lives with two different parents then the one who has main responsibility must be chosen, it cannot be awarded to both.