From April two new tax credits will be introduced as part of the Government's drive to streamline the tax and benefit system and ensure support is available to families with children in recognition of the costs and responsibilities involved in parenthood.
Child Tax Credit and Working Tax Credit, which were outlined by Chancellor Gordon Brown in last year's Budget, come into effect at the beginning of the new tax year and supersede Working Families Tax Credit, Children's Tax Credit and Disabled Person's Tax Credit.
The help currently given to parents to cover up to 70 per cent of childcare costs with an approved provider continues under the new childcare element of the Working Tax Credit but the existing rates have been increased.
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