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Tax credit entitlement firstly depends on making a claim. Once the person suits the eligibility criteria and qualifies, they may call the helpline to obtain a standard form to fill out. A tax year begins at 6 April and ends on 5 April the next year.
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Tax credit entitlement firstly depends on making a claim. Once the person suits the eligibility criteria and qualifies, they may call the helpline to obtain a standard form to fill out. A tax year begins at 6 April and ends on 5 April the next year. This is the time span for which entitlement is determined. A claim, however, can be made for a shorter duration. Just make one as quick as you can.
The child tax creditsare calculated based on one's income during the tax year but also on personal circumstances. The income is only known when the tax year ends. Thus, it is necessary to wait a little after the date of 5 April until entitlement is sorted out.
To calculate the final amount effectively, the CTC (Child Tax Credit) elements must be known first. The claimant is required to provide all info in an honest manner. When one fails to do so, they might be in a situation that attracts penalties. The CTC elements refer to a series of tests, like the normal living and the responsibility tests. Also, the child's education level and the nature of education will be discussed and proved. Disabilities and other practical aspects also need to be taken into consideration.
