WFTC meaning in Governmental ?

Answer:

What is Working Families Tax Credit mean?

Working Tax Credit (WTC) is a state benefit in the United Kingdom made to people who work and have a low income. It was introduced in April 2003 and is a means-tested benefit. Despite their name, tax credits are not to be confused with tax credits linked to a person's tax bill, because they are used to top-up wages. Unlike most other benefits, it is paid by HM Revenue and Customs (HMRC).

WTC can be claimed by working individuals, childless couples and working families with dependent children. In addition, people may also be entitled to Child Tax Credit (CTC) if they are responsible for any children. WTC and CTC are assessed jointly and families remain eligible for CTC even if where no adult is working or they have too much income to receive WTC.

In 2010 the coalition government announced that the Working Tax Credit would, by 2017, be integrated into and replaced by the new Universal Credit. However implementation of this has been repeatedly delayed and may not be finished until 2022. From 2018 no new claims can be made for Working Tax Credit, only Universal Credit. But existing WTC claimants will not be all transferred to UC until 2022.

reference

Full Form	Category
Wujiang Foreign Trade Corporation	Business
TV-29, Minneapolis, Minnesota	Community
Washington Fair Trade Coalition	General
Wisconsin Fair Trade Coalition	General
Washington Ford Truck Club	General
Working Families Tax Credit	Governmental
World Federation of Therapeutic Communities	Governmental
Working Families Tax Credit now replaced by Tax Credits	Medical