Piecing together the jigsaw
|Category|| Technical Articles
The new tax credits: Article by Robin Williamson, senior technical editor with CCH Information, published in the June 2002 issue of Tax Adviser.
- The new tax credits will take over in April 2003. The Chancellor announced the figures in the Budget, and many who are not affected by the present tax credits will be eligible to claim the new ones
- The award period will be brought into line with the tax year, and the intention is to align income definitions between income tax and tax credits
- Certain burdens on employers will be removed under the new system, but there will be new impositions, such as processing notices of variation where an employee’s award increases or reduces during a year.
- The jigsaw is still only partially complete
To view the article in pdf format, please click on the link below.
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June 2002 by