Sentences with phrase «tax credit system»

Under the current tax credit system — which universal credit will replace — eligibility can be judged annually, generally using the same records that are produced for a tax return.

In addition, the charity warned that administration of the child tax credit system must improve «dramatically» for any changes to make a real difference.

The provinces are free to either follow the federal tax credit system or introduce tax credits that are unique to the particular province.

Improving existing buildings, or constructing energy - efficient properties with long - run benefits for potential future owners, is an approach that is rewarded under the existing tax credit system.

It offered to pay families with disabled children the standard 80 % of childcare support, plus payment up to higher limits than under the current tax credits system.

While Lords debate #tax credits, IFS and Resolution Foundation tell MPs only way of mitigating tax credit changes is in tax credit system

It would also be inconsistent with the practices of most other modern nations, who already have a much higher proportion of direct financial support for R&D within their private sector firms than Canada and are moving to increase the refundability component of their R&D tax credit system.

And, given the importance of the SR&ED tax credit system as noted above, we do not believe it is realistic to think that the proposed council could succeed in meeting its leadership mandate without having responsibility for the success of SR&ED incentives, the largest element of the Government's support for business innovation.

Labour's tax credit system resulted in # 10 billion being wasted on fraud and error, Iain Duncan Smith has said.

A similar model to this B.C. Venture Investment Tax Credit system has now been adopted in New Brunswick.

«This cheap political attack on the whole tax credits system will not succeed in acting as cover for the government's cuts to tax credits which will hit millions of striving working families next year.

Nevertheless, opposition politicians greeted the report of an «indictment» of Gordon Brown's over-complicated Tax Credit system.

Plans for transferable tax allowances, and a reassessment of the government's complicated tax credit system, would help families financially, Mr Cameron said.

Contrast that with Mr Cable's clear demand that we must slash spending on public - sector pensions, cut back sharply on our global defence commitments and overhaul the ruinous tax credits system.

The new tax credit system, by contrast, could be used by states to fund wealthier students — and could be opened up to enrollment at religious schools as well.

with respect to US ETFs any US 15 % wt is not fully recovered by Canadians through the foreign tax credit system — it's prorated in proportion to your foreign income / can income..

These gifts keep giving back: not only are they good for society, but thanks to a generous tax credit system (that costs the government $ 2.3 billion a year), they're good for you too.

The simplification of the R&D tax credit system would be welcome news to small and medium - sized businesses — as would the increased access to risk capital through the Business Development Bank.

However, this proposal appears to ignore the reality that the «refundable» component of the current SR&ED tax credit system can be and is a vital funding source to many new start - ups as they create and begin developing their first product or service.

Labour's tax credit system resulted in # 10 billion being wasted on fraud and error, Iain Duncan Smith has claimed.

New rates: Chancellor George Osborne announced changes to the current tax credit system, which was introduced in 2003, in his Autumn Statement

For instance, Obamacare's use of federal subsidies to pay for mandated coverage would be replaced with a tax credit system meant to encourage people to voluntarily buy insurance.

He defended Labour's decision to introduce the minimum wage and tax credit system, however, pointing out that today's claimant count was about half the level it had been after the last two recessions.

While workers wages are falling in real terms the tax credit system - a vital lifeline that boosts income for many families - effectively acts as a government subsidy for «low pay» corporations.

Cameron attacks Labour's record on helping families, before explaining how the tax credit system is being focused on the poorest people in this country.

«One of the most welcome features of the tax credit system is the facility to backdate entitlement by up to three months before the claim has been received by HMRC.

Yet despite huge delays on projects for the Child Support Agency and the MoD, and even having to pay compensation to the government over their tax credits system, the company founded in 1962 by eccentric Texan (and 1990s presidential candidate) Ross Perot remains the UK government's largest IT contractor.

Today we announce further measures and checks to save over # 1bn in the next four years by reducing fraud, error and debt in the tax credit system.

The Low Incomes Tax Reform Group (LITRG has welcomed HMRC's continued commitment to reducing fraud and error in the tax credits system.

This government wastes billions in administering their tax credit system, just abolishing it altogether could raise the personal allowance to close to the # 10k mark.

Liberal Democrat work and pensions spokesman David Laws said the failure to meet a «key target in the war against poverty» showed that means - testing - which lies at the heart of the tax credit system - was simply not working.

Mr Blair replied that the tax credit system had lifted 700,000 children out of poverty and helped millions of pensioners out of hardship, but Mr Cameron dismissed his answer.

The prime minister hit back by saying that while the tax credit system may have its problems, he was proud of it - and noted that low - income families were much better off under Labour, when the economy and inflation rates were stable, than under the Tories.

A tax credit system that is actually less fair to those at the bottom than the very old FIS.

Plans to reform the tax credit system to make it more flexible and reduce the scope for overpayments have been broadly welcomed by campaigners.

This course is designed to give participants an understanding of the structure of the benefit and tax credit system, ability to identify the issues that may affect entitlement and an appreciation of the importance of advice and advocacy.

The CIOT has previously said that an «above the line» tax credit system will provide a far stronger incentive for businesses to invest in R&D.

Under universal credit they can lose 76p in every # 1 compared to 73p under the tax credit system.

Commenting, Andrew Gotch, Chairman of the CIOT's Owner Managed Business sub-committee said: «As a principle, we strongly agree with simplicity in administration and can see some significant benefits from sweeping away the complexities of the current benefit and tax credit system, and making it more straightforward for people to claim the financial support to which they are entitled.

However, the Conservatives and Liberal Democrats warned it was just another sign of the crisis facing the tax credit system, with the former saying the financial watchdog's report was «embarrassing beyond belief» for chancellor Gordon Brown.

More than 40 investigations are currently being carried out into organised fraud in the tax credit system, and today's report reveals there were 62,000 fraudulent claims made through the e-portal last year, of which 33,000 were successful, at a cost of # 55 million.

However, shadow paymaster general Mark Francois said the tax credit system was «in meltdown» and warned Ms Primarolo's position was looking increasingly shaky.

It seems embarassed to actually discuss the extra cash pumped into public services and the, albeit moderate redistribution, achieved through the tax credits system.

She had to go to court due to complications in the tax credit system, where the money you «get today is taken away by him tomorrow».

12:44 - The tax credit system has benefited 400,000 families, Darling argues.

Brown defends the tax credit system in the traditional way and promises to look at the individual case Clegg has brought to the House.

# 2.25 bn of this spending would be new money taken from reforms of the tax credit system and # 500m from abolishing the child trust fund, which goes to teenagers.