Only 138,836 families claimed the credit in May – or just 2.3% of those families that already get child benefit, the Treasury said.
Despite this poor showing, Trade & Industry secretary Patricia Hewitt claimed the tax credit had been a success and called for extra action to improve the take up of the benefit, rather than reform it in any way.
The introduction of the tax credit was designed to help get women with children back into the workforce, in so doing lift families out of poverty.
Crowe Clark Whitehill , the top 20 accountancy firm, has announced the promotion of Chris Mould to partner
The latest opinions from Accountancy Age on Making Tax Digital, and outline plans to evolve the UK's corporate governance regime
Five million taxpayers are ow using digital personal tax accounts (PTA) as part of the making tax digital strategy, HMRC said
UK-based non-doms have paid ten times more tax than the average taxpayer, raising concerns over the Brexit impact on non-dom contributions and therefore, the economy