2013/14
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2012/13
|
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| 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). |
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| Child Tax Credit (CTC) | ||
| Child element per child - max. | 2,720 | 2,690 |
| Family element | 545 | 545 |
Reductions in maximum rates
41% of income above £6,420* p.a.
*If only CTC is claimed, the threshold is £15,910 (£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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