As a lone parent, there are several tax breaks and benefits that you may be entitled to claim, which can help make ends meet. These include the Child Care Tax Credit, the Working Tax Credit, Income Support, Universal Credit, and Housing Benefit, among others. Be sure to particularly check whether you qualify before making any claims.” In this blog post, we’ll take a look at each of these in turn and explain how they can help you financially if you’re a lone parent.
So, the government has various financial benefits available to lone parents. These particularly include Child Tax Credit, Working Tax Credit, help with council tax, and free school meals. If you think you might be particularly eligible for any of these benefits, make sure to check the eligibility requirements and apply as soon as possible. Doing so could make a big difference to your family’s finances. But it is also necessary to keep track of your finances for the whole year, not just during the tax season. For this purpose, you can use paystubs to be sure that tax returns calculations are correct.
1. The Child Care Tax Credit
If you’re a lone parent with young children, you may be able to claim the Child Care Tax Credit to help with the particular cost of childcare. The credit is worth up to 70% of your eligible childcare costs and can be claimed for children aged under 12. To be eligible, you must be particularly employed or self-employed and have an annual income of less than
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