tax credit

British  

noun

1. (in Britain) a social security benefit paid in the form of an additional income tax allowance

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Example Sentences

It’s rough these days in electric-vehicle showrooms, as buyers are staying away now that the $7,500 per vehicle tax credit has ended.

From The Wall Street Journal

As federal tax credits for electric vehicle purchases expired, Californians bought emissions-free cars in record numbers in the third quarter of 2025.

From Los Angeles Times

The change means many thousands of parents with three or more children will receive more in universal credit and tax credits.

From BBC

Despite the name, it does not affect child benefit - but relates to tax credits and universal credit payments if you have or had a third or subsequent child born after 6 April 2017.

From BBC

Another of the key Budget announcements was on the two-child benefits cap, which means that parents can only claim Universal Credit or tax credits for their first two children, with a few exemptions.

From BBC