Barrys Accountants Limited Tax Facts » Tax Credit
 
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Tax Credit

Annual Amount 2008/09

Child tax credit£
Family element545
Baby addition545
Child element (for each child)2,085
Addition for disabled child2,540
Severe disabled child enhancement1,020

 

Working tax credit£
Basic element1,800
Lone parent and couple element1,770
30 hour element735
Disability element2,405
Severe disability element1,020
50 plus return to work payment
(16 to 29 hours)1,235
(30 or more hours)1,840
Childcare element (up to 80% of costs)Weekly
Maximum eligible cost (1 child)175
Maximum eligible cost (2 or more)300

 

Income thresholds£
First income threshold6,420
Eligible for child tax credit only15,575
First withdrawal rate39%
Second income threshold50,000
Second withdrawal rate6.67%
Income disregard25,000
 
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