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Important changes are coming to the Tax Credits system which may have a material effect on clients.

From 6 April 2012

There are changes to the working hours requirements

HMRC have been notifying many Tax Credits claimants that their claim for tax credits will end from April 2012 unless they notify HMRC. 

Claimants should think about contacting HMRC to ensure that they remain within the tax credits system so that they have time to work out their income for the 2011/12 tax year without risking losing benefits. The changes to the backdating rule means that there is a potential to lose out if you leave the system and then have to go back in. 

Further reading

HMRC Tax credits: effect of Budget changes from 6 April 2012