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Tax credits and ‘tax-free childcare’

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The Tax Credits (Claims and Notifications) (Amendment) Regulations, SI 2017/597, modify the backdating provisions for new tax credits claims, which generally prevent individuals claiming tax credits at the same time as holding a ‘tax-free childcare’ account. The regulations will allow tax credits claims to be backdated by up to 31 days falling within the entitlement period for tax-free childcare, where a person has opened a tax-free childcare account and has subsequently closed it without paying any money out of that account. The regulations come into force on 17 May 2017.

Issue: 1352
Categories: News