Tax Credits Service
If you have an income together with your spouse of less than £26K or less than £13k as an individual you may be eligible for Working Tax Credit. If you have children you will also be eligible for Child Tax Credit and your company may also be eligible for Childcare Vouchers. With some careful calculations and tax-planning strategies, DNS will work with you to ensure you ARE eligible for WCTC. There are additional credits if you work for more than 30 hours and if you have children under the age of 16 or in full-time education.
This service falls within our Tax Planning services where we assist you in organising your business so that your income is within the threshold to receive some of these benefits. DNS have successfully made claims for WCTC for many of our clients and many of them have received payments beyond their expectations.
The form to apply for WCTC is like all official forms, difficult if you don’t know how. There are a lot of figures to fill in, and really it can be a bind. If DNS look after your Tax Credits, on the other hand, we ensure that the form is correctly filled in. We will have told you already by looking at your income whether you are eligible or not. We will fill in the form, get it backdated if appropriate, and renew your claim for you each year. If you have children, we will calculate that and fill in the appropriate part of the form so that you receive that too. We will also organise Childcare Vouchers through your company if this is appropriate.
DNS will keep you legally below the threshold so that you continue to receive Tax Credits, and we will update your details annually with HMRC.
Our Tax Credits service costs from £200 + VAT.
You can purchase DNS Tax Credits Service by submitting the form. You can use the same form to request information about other services as well. On Receipt of the form, DNS will contact you.
FAQ TAX CREDITS
Yes, anyone can apply for WCTC as they are there to support working people by topping up their earnings. To qualify you have to be aged 16 or over and usually live and work in the United Kingdom. If you live with a spouse or partner then you must make a joint application. To be entitled to Child Tax Credits you must have one or more children.
The money you have coming in (income) affects how much Working Tax Credit you get. Savings do not affect your claim unless the income from them is more than £300. If DNS look after your Tax Credits, we ensure that your earnings stay below the threshold so that you are able to receive Working Tax Credits, and if you have children, the Child Tax Credit too. DNS can also help your company claim Child Care Vouchers.
WCTC comes in the form of a payment to your designated bank or building society account. Working Tax Credit is paid for a year but it is very important to let HMRC know about changes in your life that could affect the money you get.
WCTC is made up of different parts, based on your personal circumstances. For example, you get one part if you have a disability and another part if you are paying for childcare. The amount you get also depends on your annual income.
You must let DNS know about anything that might affect your claim because we must let HMRC know. If DNS already do your accounts for you, we will plan throughout the year to ensure that your income stays below the threshold allowed for WCTC.
The Amount you receive is based on your earnings and circumstances, for instance if you live with a spouse or partner, and whether you have children. When we have worked out what you are likely to receive we will inform you of what you are likely to expect.
You may be able to get WCTC but DNS would need to discuss your personal circumstances with you before we can give you a definitive answer. However, your spouse or partner may be eligible, but we would look at all the possibilities on your behalf as British/settled spouse/civil partners may claim WCTC and Child Benefit on behalf of his or her family if they are entitled to this under the DWP legislation.
Certainly, DNS will make the claim on your behalf. If we already do your accounts for you we will have built in a strategy to monitor your eligibility for WCTC as part of our tax-planning. If we don’t look after your accounts, we would need to ask you for all the paperwork necessary to complete the form for you.
When you have sent us back the signed WCTC form DNS will send it to the appropriate department at HMRC. They will process the form and then issue a WCTC Awards Notice, which you will be asked to check. Providing there are no errors on the form, you need do nothing, but you must notify DNS immediately if there is an error on it, or if there is a change in your circumstances throughout the year, such as a lodger or another adult that earns an income moving into your home.
DNS will help you from start to finish with your application for WCTC. We will get the form, fill it in with all the figures, and even file it for you. We will also renew once a year on your behalf and providing you inform us we will inform HMRC of any changes to your circumstances.
Once you have received your WCTC Award Notice, you can start to expect a payment into your designated bank account. The application for WCTC allows you to designate a date for payments and a chosen bank or building society to have your money paid into.
It is very important to renew your Tax Credits by 31 July each year. If you fail to do so, it will affect your claim and your payments may stop altogether. You will be sent a Renewal form in May or June, which DNS will fill in for you. Or you can renew on the WCTC helpline phone number.
You must declare “other income” on your WCTC form but only if it’s over £300. DNS will look at all your savings and investments and advise you on this, but WCTC are based on your income not your wealth.
The HMRC website provides all the information you need about Tax Credits. You can also telephone DNS or email us and we will help you all we can.
To see all our Testimonials click here. Below are some testimonials from clients and colleagues, which illustrate that in addition to applying for tax credits on your behalf, we can also help you apply for Childcare Vouchers, file your Self Assessment Tax Return, apply for a tax rebate on your behalf, and assist you with other statutory matters such as visa and mortgage applications.
Ross Simpson : “That’s great – many thanks for sorting this out so swiftly Umar – much appreciated.”
Ross Simpson Ltd , Project Manager , Full Accounting Services
Manish Bhatia :“It is very encouraging to work with you and I feel very pleased to be associated with DNS, a firm which always strives to serve clients beyond the their expectations. I would like to follow-up on the tax return for Mimi as well; please file her tax return as I am sure she will be owed some money from HMRC.”
Manish Bhatia , D&EL IT ,Accountancy Services
This client requested our assistance in relation to a query from his mortgage lender regarding his bank statements. DNS located and compiled the necessary documents.
Paresh Bhurke : “I have been to the HSBC NRI desk and the person there attested everything, looking at the original bank statement. You don’t have to send anything now. Thank you very much for all your prompt responses, suggestions, and concern. It has been invaluable.”
Ultimate UK Ltd , Assistance with Documents relating to Mortgage
Nitesh Kashyap : “I would like to give my very positive feedback for the services I receive from DNS. The team is very alert and prompt in answering queries. I am very happy with your services, cheers!”
Breeze It Solutions Ltd, IT Contractor , Set-up with HMRC and Training
Sofy Bohra :“Good News! I had my Tier 1 Visa extension in-person appointment yesterday. It has been issued successfully with no major hassles. I don’t have enough words to thank you all for all your help, especially Umar’s last-minute help. Thanks a lot! I really appreciate your help.”
Orane Technologies ltd, IT Consultant , Visa Application Documents
DNS prepared the documents as requested by this client but then some additional information needed posting at very short notice, so we collated it and sent it that day so that the client would receive the documents from us the following day. The client then had difficulties explaining the figures to the interviewer during her Home office interview and so she called me up so that I could explain this information to them over the phone.
Bootfast Consultancy Ltd, Car Industry Consultant ,Visa Application Documents
Arpan Bhatia (Freelance) and Capgemini (colleague) : “Sumit is a focused and committed individual with outstanding knowledge in business processes and excellent accounting and people-management skills. He is also a great listener and very approachable. Let’s say that he’s a highly motivated, energetic, articulate, and definitely a customer centric business manager. It has been my pleasure to work with Sumit, and I wish him every success in his future endeavours.”
MCSD, C|EH, Sr. Application Analyst (Freelance), IT Consultant , Colleague and business associate