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.
IR35 employment status tax rules may result in workers losing part of their income, says professional body
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