Increase in Working Tax Credits

Written by Katie
February 18, 2022
Business News

The government has announced that Working Tax Credits payments will be increased from 6 April 2020. As part of a number of measures to support the country during the COVID-19 pandemic, the basic element of Working Tax Credit has been increased by £1,045 to £3,040 from 6 April 2020 until 5 April 2021.

The amount a claimant or household will benefit from will depend on their circumstances, including their level of household income. But the increase could mean up to an extra £20 each week. The government is also updating Child Benefit, other tax credits rates and thresholds, and Guardian’s Allowance by 1.7% with effect from 6 April 2020. These increases came into effect on the 6 April, but individual payment dates will vary depending on circumstances. You don’t have to take any action and you will receive any increased payments automatically. A full list of tax credits, child benefit and Guardian’s allowance can be found:

You can use the tax credits calculator to work out how much you could get.

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