I am writing to bring to your attention a possible tax break that you may be entitled to. The year before Tax Credits were introduced there was a different non-means tested allowance. The Children’s Tax Allowance was never advertised by the Inland Revenue and is still available. You may be eligible to claim £529.
Many of people seem to be unaware of this opportunity. If you have not already claimed you will be eligible to do so if you meet the following criteria:
- You have a child born between 6th April 1986 and 5th 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.
- Alternatively you may even be eligible to claim £1,048 if you can answer yes to the above questions and one of your children was born between 6th April 2002 and 5th April 2003.
It’s important you act now as all Claims must be submitted by the 31st January 2009 deadline. In order to claim before 31st January 2009 you need to contact your local Tax Office to confirm if you have already received the Children’s Tax Allowance, if not they will advise you on what action you need to take. You can find your local tax office by visiting www.HMRC.gov.uk and going to ‘Contact Us’.
If you would like to know more about this or would like some assistance in making a claim, please do not hesitate to contact me. Also, in view of the current economic turmoil now may be a good time for us to discuss your financial plans and make sure they continue to meet your immediate and long term goals. Please contact me and we can discuss this further.
Joy Jeffrey
Independent Financial Adviser
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