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Working Tax Credit. Working Tax Credit (WTC) is a state benefit in the United Kingdom made to people who work and receive a low income. It was introduced in April 2003 and is a means-tested benefit. Despite the name, tax credits are not to be confused with tax credits linked to a person's tax bill, because they are used to top-up low wages.
Universal Credit logo. Universal Credit is a United Kingdom social security payment. It is means-tested and is replacing and combining six benefits, for working-age households with a low income: income-related Employment and Support Allowance (ESA), income-based Jobseeker's Allowance (JSA), and Income Support; Child Tax Credit (CTC) and Working Tax Credit (WTC); and Housing Benefit.
Pension Credit. Pension Credit is the principal element of the UK welfare system for people of pension age. It is intended to supplement the UK State Pension, or to replace it (for example, if the claimant did not meet the conditions to claim a State Pension). It was introduced in the UK in 2003 by Gordon Brown, then Chancellor of the Exchequer.
National Insurance (NI) is a fundamental component of the welfare state in the United Kingdom. It acts as a form of social security, since payment of NI contributions establishes entitlement to certain state benefits for workers and their families. Introduced by the National Insurance Act 1911 and expanded by the Labour government in 1948, the ...
Personal Independence Payment (abbreviated to PIP and usually pronounced as one word) is a welfare benefit in the United Kingdom that is intended to help working age adults with the extra costs of living with a health condition or a disability. It is available in England, Wales and Northern Ireland but not in Scotland where Adult Disabled ...
This was £1 higher than the rate payable for subsequent children, which was again frozen, at £7.25/week. From 1991 Child Benefit increased in line with inflation, until 1998, when the new Labour government increased the first child rate by more than 20%, and abolished the Lone Parent rate. New Labour oversaw the biggest increase in child ...
A child tax credit (CTC) is a tax credit for parents with dependent children given by various countries. The credit is often linked to the number of dependent children a taxpayer has and sometimes the taxpayer's income level. For example, with the Child Tax Credit in the United States, only families making less than $400,000 per year may claim ...
Tax Credits Act 2002. The Tax Credits Act 2002 chapter 21 was a Public and General British Act of Parliament passed by the Labour Government at the time, led by Prime Minister Tony Blair. The Act established the administrative framework for the implementation of tax credits and sets out who is entitled to tax credits. [1]
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