A tax credit is an amount of money on which you do not have to pay tax.
The president proposed to provide tax credits to businesses that allow workers timeoff.
tax credit in British English
noun
a sum that can be offset against a tax liability
Examples of 'tax credit' in a sentence
tax credit
She says that the process of asking for basic tax credits is confusing.
Times, Sunday Times (2016)
It will do little to offset against a rise in inflation and a freeze in working age benefits and tax credits.
Times, Sunday Times (2016)
More than 6,000 people wrongly had their tax credits stopped because claims were not processed in time.
Times, Sunday Times (2016)
It ended the year with a tax credit of 11.3 million.
Times, Sunday Times (2016)
He praised those working hard on low pay, then took away the tax credits keeping them afloat amid soaring costs.
The Sun (2016)
Senior government figures are studying whether to stop newly arrived migrants from the continent from claiming tax credits and other in-work benefits.
Times, Sunday Times (2017)
The move followed evidence that more than 6,000 people had wrongly had their tax credits cut following investigations by Concentrix.
Times, Sunday Times (2016)
The definition of qualifying R&D is surprisingly broad, with the tax credit available to businesses that are improving any technology for products or processes.
Times, Sunday Times (2016)
The only help we receive is tax credits to pay for our daughter to go to nursery.
The Sun (2010)
The one certainty is that employed people on low incomes will lose tax credits.
The Sun (2015)
Those on lower incomes may have some of their losses offset by increased tax credit payments.
Times, Sunday Times (2007)
They were far less likely to claim benefits and tax credits or live in social housing.
Times, Sunday Times (2013)
Neither can parents use childcare vouchers or tax credits to pay grandparents.
Times, Sunday Times (2011)
She was caught when she tried to change her tax credit claims to income support.
Times, Sunday Times (2006)
They wanted to give money to the poor through tax credits and benefits.
Times, Sunday Times (2012)
But this can be offset by changes to income tax credits and allowances.
Times, Sunday Times (2010)
It can also advise on how to boost your personal income through tax credits and benefits.
Times, Sunday Times (2009)
Tax credits should be adjusted to give couples the same ratio of support as lone parents.
Times, Sunday Times (2007)
We get quite a bit of money in tax credits and so the economy is very important to us.
Times, Sunday Times (2010)
Our competitiveness is back and we have a new tax credit system which will give the industry real certainty.
Times, Sunday Times (2006)
The money comes from tax credits.
Times, Sunday Times (2013)
Drama, animation and computer game firms will get new tax credits.
The Sun (2012)
The Tories voiced alarm that so many were having to pay back tax credit overpayments.
The Sun (2008)
He receives 197 a month from the tax credit and disability allowance systems.
Times, Sunday Times (2011)
It will stop paying working tax credits to families earning more than 50,000 a year.
Times, Sunday Times (2010)
At the moment we have a ridiculous circular system in which people are taxed, then given their money back in tax credits.
Times, Sunday Times (2008)
One of them is a new tax credit that will help small businesses and small tax-exemptorganizations afford the cost of providing health insurance for their employees.
Christianity Today (2000)
Mr French had been concerned about the effects of planned cuts on poorer families and says the U-turn on tax credits was a relief.
Times, Sunday Times (2015)
Families and low-income households UK taxpayers miss out on billions of pounds of additional income from tax credits.
Times, Sunday Times (2008)
You need a certain amount of tax credits for childcare support and I'm just above the threshold so get no help.
The Sun (2010)
In other languages
tax credit
British English: tax credit NOUN
A tax credit is an amount of money on which you do not have to pay tax.
The president proposed to provide tax credits to businesses that allow workers time off.