2014/15
|
2013/14
|
|
Working Tax Credit | ||
Basic element – max. | 1,940 | 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. | 2,750 | 2,720 |
Family element | 545 | 545 |
Reductions in maximum rates
41% of income above £6,420* p.a.
*If only CTC is claimed, the threshold is £16,010 (£15,910) p.a. The family element of CTC tapers immediately after the child element at a rate of 41%.