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Menu of rates »
Tax Credits
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2012/13
£ |
2011/12
£ |
| Working Tax Credit |
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| Basic element - max. |
1,920 |
1,920 |
Childcare element
70% of eligible costs up to £175 per week (£300 if two or more children). |
| Child Tax Credit (CTC) |
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| Child element per child - max. |
2,690 |
2,555 |
| Family element |
545 |
545 |
Reductions in maximum rates
41% of income above £6,420* p.a.
*If only CTC is claimed, the threshold is £15,860 p.a. The family element of CTC tapers immediately after the child element from April 2012. The withdrawal rate is 41%.
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