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Tax credits & Child Benefit

Working Tax Credit rates

The maximum Working Tax Credit rates are shown below.

Working Tax Credit - £ per year

Rates April 2011 April 2012
Basic element £1,920 £1,920
Couple and lone parent element £1,950 £1,950
30 hour element £790 £790
Disabled worker element £2,650 £2,790
Severe disability element £1,130 £1,190
50+ Return to work payment(16-29 hours) £1,365 Withdrawn
50+ Return to work payment(30+ hours) £2,030 Withdrawn

 

 

Childcare element of Working Tax Credit

The maximum childcare costs you can claim for, and percentage you can get help with are shown below.

Childcare element of Working Tax Credit

Rates April 2011 April 2012
Maximum eligible cost for one child £175 per week £175 per week
Maximum eligible cost for two or more children £300 per week £300 per week
Percentage of eligible costs covered 70% 70%

 

 

Child Tax Credit rates

The maximum Child Tax Credit rates are shown below.

Child Tax Credit - £ per year

Rates April 2011 April 2012
Child Tax Credit Family element £545 £545
Child element £2,555 £2,690
Disabled child element £2,800 £2,950
Severely disabled child element £1,130 £1,190

 

 

Tax credits income thresholds

The tax credits income thresholds and withdrawal rates are shown below.

Income thresholds and withdrawal rates - £ per year (unless stated)

Rates and Thresholds April 2011 April 2012
First income threshold £6,420 £6,420
First withdrawal rate (per cent) 41% 41%
Second income threshold £40,000 Withdrawn
Second withdrawal rate (per cent) 41% -
First threshold for those entitled to Child Tax Credit only £15,860 £15,860
Income rise disregard £10,000 £10,000
Income fall disregard - £2,500

 

Child Benefit rates

The Child Benefit rates are shown below.

Child Benefit - £ per week