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 Sunday, 22 November 2009
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Unclaimed children's tax allowances

posted : MONDAY, 12TH OCTOBER 2009 05:51:55 BST comments : 0
Unclaimed tax

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It's not often you can get money for the clenched fist of the Inland Revenue but some parents can claim more than £1000 if they hurry.

The year before Tax Credits were introduced there was a different non-means tested allowance available that was not exactly heavily advertised by the Inland Revenue – the Children’s Tax Allowance for the year 2002/3.

Rates and Allowances 2008/9

Personal Allowance   £5,435
Personal Allowance 65-74   £9,030
Personal Allowance 75 and over   £9,180
Basic Rate 20% £0 - £36,000
Higher Rate 40% over £36,000

You can still claim this tax allowance but any claims must be made by 31 January 2009. This can be done by filling in the form found here

You are eligible to claim £520.00 allowance if:
- You have a child born between 6 April 1986 and 5 April 2003
- The child lived with you for all or part of 2002/2003
- You worked and paid tax for all or part of 2002/2003
- You or your partner earned £6,000 plus in the year 2002/2003 tax year

You are eligible for the £1,040 allowance if:
- If you can answer yes to the four questions above, and
- One of your children was born between 6 April 2002 and 5 April 2003

Tax Guides and Tools

If you still hold any payslips or a P60 from 2002-03 you can generally tell if you have been given the Children's Tax Credit relief as your code will end in either an 'H' or 'T'. Self-employed taxpayers can review their final calculations of 2002-03 liability to check if Children's Tax Credit has been granted.

Contact your local tax office for further information.

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