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Where will I get the money to pay tax credits?

April 26, 2017money pay tax credits

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Where will I get the money to pay tax credits?

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A. You will have to ensure that you have the money to pay tax credits on pay day. You will be able to offset tax credits paid to your employees against the aggregate PAYE tax, NICs and student loan deductions which you are due to pay to the Inland Revenue each month or quarter, as appropriate. This means that the amount of PAYE tax, NICs and student loan deductions which you have to pay to the Inland Revenue will be reduced by the amount of tax credits you pay to your employees.