The department claims that after only 10 months since their inception figures are approaching the total number of families expected to receive them.
‘Before they were introduced in April 2003 we estimated that six million families would benefit from them after a year. But now, after just under ten months, that figure has already been reached,’ said paymaster general Dawn Primarolo.
Families with a combined income of up to £58,000 are eligible for the credits.
Committee expresses concern about costs to businesses and April 2018 implementation date
Drastically fewer offices for HMRC in the hope to reduce their running costs
An 80% increase in additional revenue for HMRC coincides with a crackdown on income tax avoidance
Laurence Field, the head of tax at national audit, tax and advisory firm Crowe Clark Whitehill outlines the 6 'unexpected items' regarding HMRC's Making Tax Digital plans