Barrys Accountants Limited Tax Facts » Tax Credit
 
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Tax Credit

Annual Amount 2012/13

Child tax credit£
Family element545
Child element (for each child)2,690
Addition for disabled child2,950
Severe disabled child enhancement1,190

 

Working tax credit£
Basic element1,920
Lone parent and couple element1,950
30 hour element790
Disability element2,790
Severe disability element1,190
Childcare element (up to 70% 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 only15,860
First withdrawal rate41%
Income rise disregard10,000
Income fall disregard2,500
 
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