working families tax credit


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Related to working families tax credit: Working Families Tax Relief Act of 2004

working families tax credit (WFTC)

a fiscal measure introduced in the UK in 1999 which provides financial assistance to low income parents who work. The basic rate is payable for an adult with one child who works a minimum of 16 hours per week, with higher rates being payable the more children and the more hours worked.

The WFTC replaces Family Credit – a benefit paid by the Department for Work and Pensions – and is paid by the Inland Revenue through the tax system. Like the NEW DEAL initiative, the WFTC is part of the government's attempt to ‘reward’ people for working as a means of reducing the level of UNEMPLOYMENT.

working families tax credit (WFTC)

a fiscal measure introduced in the UK in 1999 that guarantees a minimum level of income to low-income families who work. The WFTC replaces Family Credit - a benefit that was paid by the Department of Social Security - and is paid by the Inland Revenue through the tax system. Like the NEW DEAL initiative, the WFTC is part of the government's attempt to ‘reward’ people for working as a means of reducing the level of UNEMPLOYMENT.
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There are two principles underlying the Working Families Tax Credit. The first, like its predecessor, Family Credit, is that it is intended to reduce poverty.
Labour is proud to have introduced working families tax credits because they've helped parents back into work.
Mum-of-four Jane received the family's last pounds 160 weekly Working Families Tax Credit payment on April 7.
"So the new Children's Tax Credit will build on the rises in universal child benefit, the Working Families Tax Credit and will be a tax cut for 400,000 Scottish families .
WORKING FAMILIES TAX CREDIT: For children under 11, up by pounds 1.40 a week in April 2000, and up by pounds 4.35 a week in June 2000.
If this woman really wants to work she could get any help she needs by claiming working families tax credit and child tax credit.
Working Families Tax Credit, the Minimum Wage, the Child Trust Fund, record increases in child benefit and free breakfasts for primary school children.
Single mum Marie Kirby set up Kool Oasis in Rice Lane on her 40th birthday with help from the Working Families Tax Credit and a Lloyds TSB loan.
They replace income tax relief, worth pounds 529 a year, which was given to the breadwinner - normally dad - and previous cash support given to families, such as Working Families Tax Credit. A separate Working Tax Credit is given through pay packets to low-paid working parents.
The action plan, announced by the National Assembly, includes start-up grants of pounds 300 to all newly registered childminders, increased funding for voluntary childcare organisations and improved access to the Working Families Tax Credit.
"The Working Families Tax Credit, Children's Tax Credit, and rises in child benefit are already helping many families locally, and local unemployment is lower than it was when Labour came into office.
'We've got the integrated Child Credit, the Children's Tax Credit, the Working Families Tax Credit, the Child Care Tax Credit and Child Benefit as well.

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