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INTRODUCTORY
- The Tax Credits Act 2002 will introduce the Child Tax Credit and Working Tax Credit from 7th April 2003. Child Tax Credit will combine all income support for children and will be paid to the main carer, along with Child Benefit. Working Tax Credit will be paid through an employee’s earnings. This Act makes provision for- (a) a tax credit to be known as child tax credit, and (b) a tax credit to be known as working tax credit. (2) In this Act references to a tax credit are to either of those tax credits and references to tax credits are to both of them. (3) The following (which are superseded by tax credits) are abolished- (a) children's tax credit under section 257AA of the Income and Corporation Taxes Act 1988 (c. 1), (b) working families' tax credit, (c) disabled person's tax credit, (d) the amounts which, in relation to income support and income-based jobseeker's allowance, are prescribed as part of the applicable amount in respect of a child or young person, the family premium, the enhanced disability premium in respect of a child or young person and the disabled child premium, (e) increases in benefits in respect of children under sections 80 and 90 of the Social Security Contributions and Benefits Act 1992 (c. 4) and sections 80 and 90 of the Social Security Contributions and Benefits (Northern Ireland) Act 1992 (c. 7), and (f) the employment credit under the schemes under section 2(2) of the Employment and Training Act 1973 (c. 50) and section 1 of the Employment and Training Act (Northern Ireland) 1950 (c. 29 (N.I.)) known as "New Deal 50plus".
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FUNCTIONS TRANSFERRED TO TREASURY
- The functions of the Secretary of State under- (a) section 77 of the Social Security Contributions and Benefits Act 1992 (c. 4) (guardian's allowance: Great Britain), (b) Part 9 of that Act (child benefit: Great Britain), except section 142(1)(c) and (2) and paragraphs 5 and 6(1) of Schedule 10, (c) section 80 of the Social Security Administration Act 1992 (c. 5) (overlap with benefits under legislation of other member States: Great Britain), and (d) section 72 of the Social Security Act 1998 (c. 14) (power to reduce child benefit for lone parents: Great Britain), are transferred to the Treasury. (2) The functions of the Northern Ireland Department under- (a) section 77 of the Social Security Contributions and Benefits (Northern Ireland) Act 1992 (c. 7) (guardian's allowance: Northern Ireland), (b) Part 9 of that Act (child benefit: Northern Ireland), except section 138(1)(c) and (2) and paragraphs 5 and 6(1) of Schedule 10, (c) section 76 of the Social Security Administration (Northern Ireland) Act 1992 (c. 8) (overlap with benefits under legislation of other member States: Northern Ireland), and (d) Article 68 of the Social Security (Northern Ireland) Order 1998 (1998/1506 (N.I. 10)) (power to reduce child benefit for lone parents: Northern Ireland), are transferred to the Treasury. (3) The functions of the Secretary of State under Part 10 of the Social Security Administration Act 1992 (c. 5) (review and alteration of benefits: Great Britain) so far as relating to child benefit and guardian's allowance are transferred to the Treasury. (4) The functions of the Northern Ireland Department under sections 132 to 134 of the Social Security Administration (Northern Ireland) Act 1992 (c. 8) (review and alteration of benefits: Northern Ireland) so far as relating to child benefit and guardian's allowance are transferred to the Treasury.
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UK COMPANIES FORMATION
- We have introduced a new, faster way of completing the English and Scottish companies incorporation process. You can register your company and nominate your director(s) and secretary online. The process is simple and straightforward, but we have put together some helpful tips below in case you need any pointers. There is also an email address at the foot of this page if we have missed anything. You can start contracting using your new company once you have received your Certificate of Incorporation - usually within 3 working hours of submitting your order. Our system allows you to nominate your directors and secretaries up front. Other firms registering companies, do not offer this on-line service therefore, you would need to complete several forms to achieve the same end result, extending the time your company would be out of operation, to at least three weeks. Using our system, your English or Scottish company will be registered with the directors and secretaries of your choice without delay. We can help you in choosing a Company Name. We have a list of readymade company names, making it easier for you to get a registered company name. We can also help you arrange a bank account along with the company registration in the UK.
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