2012/13
|
2011/12
|
|
| Working Tax Credit | ||
| 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) | ||
| 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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