Tax credits and self assessment 2020/2021

In receipt of working tax credits/child tax credits, has your income increased in the tax year 2020/21 which could result in an overpayment. Take action now, do not wait until 31/7/21, repaying tax credits can be a burden.

If you are on tax credits, you can also open a Help to Save Account. This is a type of savings account and was introduced back in 2018, whereby it allows you to get a bonus of 50p for every £1 you save over 4 years. (Maximum monthly save £50) Those who opened the accounts back in 2018 have received their first bonus which is a great help to a family - If £100 per month was saved by a couple a bonus of £1,200 would have been received (£600 each) It is not to late to open your Help to Save Account.

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