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Finance
Tax credits: a decreasing burden on employers?
  1. Phil Swan

    Phil Swan is an accountant with Hazlewoods, based in Gloucestershire. He has a special interest in the veterinary profession.

    and
  2. Kirsty Lightowlers

    Kirsty Lightowlers is a tax manager with Haziewoods, dealing specifically with veterinary surgeons.

Abstract

TWO new tax credits were introduced in April, having been announced by the Chancellor of the Exchequer in last year's Budget. The Inland Revenue claims that these new credits - which have replaced the Working Families and Children's Tax Credits - are intended to lessen the administrative burden on employers. In this article, Phil Swan and Kirsty Lightowlers explain how the new tax credits differ from the previous schemes, and speculate on what impact they are likely to have on practice owners.

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