Tax Credits
| 2008/09 £ |
2007/08 £ |
|
| Working Tax Credit Basic element - max. |
1,800 | 1,730 |
| Childcare element 80% of eligible costs up to £175 per week (£300 if two or more children). |
||
| Child Tax Credit (CTC) Child element |
||
| per child - max. | 2,085 | 1,845 |
| Family element | 545 | 545 |
| Baby addition | 545 | 545 |
Reductions in maximum rates
39% (37%) of income above £6,420* (£5,220*) p.a.
*If only CTC is claimed, the threshold is £15,575 (£14,495) p.a. The family element of CTC is not reduced unless income is more than £50,000 p.a. when it is reduced by £1 for every £15 of additional income.