Tax Credits

 

Working and Child Tax Credits Rates and Thresholds

Working Tax Credit 2017-18

£ per year

2016-17

£ per year

Change
Basic Element 1,960 1,960 0
Couple and Lone Parent Element 2,010 2,010 0
30 hour element 810 810 0
Disabled worker element 2,970 2,970 0
Severe disability element 1,275 1,275 0
Childcare Element 2017-18

£ per year

2016-17

£ per year

Change
Maximum eligible costfor one child £175 per week £175 per week 0
Maximum eligible cost for two or more children £300 per week £300 per week 0
percent of eligible costs covered 70% 70% 0
 Child Tax Credit 2017-18

£ per year

2016-17

£ per year

Change
Family element 545 545 0
Child element 2,780 2,780 0
Disabled child element 3,175 3,140 35
Severely disabled child 1,290 1,275 15
Income thresholds 2017-18

£ per year

2016-17

£ per year

Change
First income threshold 6,420 6,420 0
First withdrawal rate (percent) 41% 41% 0
First threshold for those entitles to Child Tax Credit only 16,105 16,105 0
Income disregard 2,500 2,500 0

As announced in Budget 2010, the baby element of the Child Tax Credit will be removed from April 2011

 

 

 

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