Tax & Accounting News

Tax credits - changes for employers

01/11/2005

From 7 November 2005 Working Tax Credit (WTC) will be paid direct by HM Revenue & Customs to all new claimants.

Payment of WTC through payrolls for all existing claimants will be phased out between 7 November 2005 and 31 March 2006, and employers must notify all relevant employees of this.

HM Revenue & Customs will issue stop notices to all employers currently paying WTC through the payroll between 7 November 2005 and 18 February 2006.

For full details, and the text of the standard letter which should be sent to relevant employees, click here.

For a list of FAQs for employers, click here.

 

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