Tax Credits

Working Tax Credit

Working Tax Credit2015-20162014-20152013-2014
Basic element (max)1,9601,9201,920

70% of eligible childcare costs up to £175 per week (£300 if two or more children)

Child Tax Credit

Child Tax Credit2015-20162014-20152013-2014
Child element - (per child max)2,7802,7502,720
Family element545545545

Reductions in Maximum Rates

41% of income above £6,420* p.a

* If only child tax credit is claimed, the threshold is £16,105 p.a. The family element of child tax credit tapers immediately after the child element at a rate of 41%.

If you have any questions or would like further information please call on 01527 68235