tax credit
A social security payment that is administered by HM Revenue and Customs rather than by the Department for Work and Pensions. Child tax credit is a means-tested social security benefit for all those, whether in or out of work, who have responsibility for children. Working tax credit is available to low-paid workers and is usually payable by employers through the pay packet; it may also be available to those who have a disability that puts them at a disadvantage in getting a job.

Tax credits represent the first attempts to integrate the tax and benefit system. The measure of income for tax-credit purposes is based on income tax rules and credits are given based on the income tax year. Unlike income tax, however, the income measured is the joint income of a couple with responsibility for a child for whom the claim is made. For this purpose, the income of an unmarried couple is aggregated in the same way as the income of a married couple. Under the Welfare Reform Act 2012, tax credits are being replaced by universal credit for most applicants.

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