Thursday, May 22, 2008

Tax credit income disregard!?!

How has HMRC managed to save the taxpayer £700m by reducing tax credit overpayments last year?

Simple, by increasing the so-called "tax credit income disregard" from £2,500 to £25,000 before an overpayment is recognised!
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3 comments:

  1. Mark Wadsworth11:38 am

    Yup, Tax Credits are effectively based on the lower of this year's and last year's income, which has even worse unintended consequences that you might first think.

    ReplyDelete
  2. Anonymous11:42 pm

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    ReplyDelete
  3. Letters From A Tory10:23 am

    Unbelievable.

    ReplyDelete