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Migration of tax credits to universal credit

New claims for tax credits are no longer possible as they have been replaced by the universal credit for all claimants. Existing claimants will continue to receive tax credits until they are migrated to the universal credit system. Migration will take place when a change in circumstances is reported or when a migration notice letter is received. This is expected to be completed in 2024. There is information about migration notice letters on the GOV.UK website.

See the Universal credit guidance note.

Determining the profit or loss for tax credits

A claimant’s trading income is defined in the regulations as follows:

1. •

   the amount of his taxable profits for the tax year from:

2. 1. â—¦

      any trade carried on in the UK or elsewhere, and

   2. â—¦

      any profession or vocation the income from which does not fall under any other provisions of the tax credits regulations

3. •

   if