Many of us have heard about – and claim ? working tax credits. But a good proportion of parents are not tapping into working tax credits, according to new research. And it will cost us ?3.6 billion in 2008/2009.
Both pension and child tax credits are seeing millions fail to claim their allowances, resulting in huge overpayments, which have hit the poorer members of society the hardest, as tax credits are generally means tested and thus available to lower-rate taxpayers first and foremost, says Unbiased.co.uk, the website promoting the benefits of independent financial advice
With belts tightening for a possible recession and the lowest tax band being abolished in the last budget, the time has never been more pressing for UK taxpayers to ensure they are not giving more to the taxman than they should be.
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