{"id":331,"date":"2011-08-23T19:41:29","date_gmt":"2011-08-23T18:41:29","guid":{"rendered":"http:\/\/jsrcharteredaccountants.com\/?page_id=331"},"modified":"2017-03-10T13:39:23","modified_gmt":"2017-03-10T13:39:23","slug":"tax-credits","status":"publish","type":"page","link":"https:\/\/jsrcharteredaccountants.com\/tax-rates-allowances\/tax-credits","title":{"rendered":"Tax Credits"},"content":{"rendered":"

Tax Credits<\/span><\/h1>\n

 <\/p>\n

Working and Child Tax Credits Rates and Thresholds<\/strong><\/h2>\n\n\n\n\n\n\n\n\n
Working Tax Credit<\/strong><\/span><\/td>\n2017-18<\/strong><\/span><\/p>\n

\u00a3 per year<\/strong><\/span><\/td>\n

2016-17<\/strong><\/span><\/p>\n

\u00a3<\/strong><\/span>\u00a0per year<\/strong><\/span><\/td>\n

Change<\/strong><\/span><\/td>\n<\/tr>\n
Basic Element<\/span><\/td>\n1,960<\/span><\/td>\n1,960<\/span><\/td>\n0<\/span><\/td>\n<\/tr>\n
Couple and Lone Parent <\/span>Element<\/span><\/td>\n2,010<\/span><\/td>\n2,010<\/span><\/td>\n0<\/span><\/td>\n<\/tr>\n
30 hour element<\/span><\/td>\n810<\/span><\/td>\n810<\/span><\/td>\n0<\/span><\/td>\n<\/tr>\n
Disabled worker element<\/span><\/td>\n2,970<\/span><\/td>\n2,970<\/span><\/td>\n0<\/span><\/td>\n<\/tr>\n
Severe disability element<\/span><\/td>\n1,275<\/span><\/td>\n1,275<\/span><\/td>\n0<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n\n
Childcare Element<\/strong><\/span><\/td>\n2017-18 <\/strong><\/span><\/p>\n

\u00a3 per year<\/strong><\/span><\/td>\n

2016-17<\/strong><\/span><\/p>\n

\u00a3 per year <\/strong><\/span><\/td>\n

Change<\/strong><\/span><\/td>\n<\/tr>\n
Maximum eligible cost<\/span>for one child<\/span><\/td>\n\u00a3175 per week<\/span><\/td>\n\u00a3175 per week<\/span><\/td>\n0<\/span><\/td>\n<\/tr>\n
Maximum eligible <\/span>cost\u00a0for two or more children<\/span><\/td>\n\u00a3300 per week<\/span><\/td>\n\u00a3300 per week<\/span><\/td>\n0<\/span><\/td>\n<\/tr>\n
percent of eligible costs covered<\/span><\/td>\n70%<\/span><\/td>\n70%<\/span><\/td>\n0<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n\n\n
\u00a0<\/span>Child Tax Credit<\/strong><\/span><\/td>\n2017-18 <\/strong><\/span><\/p>\n

\u00a3 per year<\/strong><\/span><\/td>\n

2016-17<\/strong><\/span><\/p>\n

\u00a3 per year<\/strong><\/span><\/td>\n

Change<\/strong><\/span><\/td>\n<\/tr>\n
Family element<\/span><\/td>\n545<\/span><\/td>\n545<\/span><\/td>\n0<\/span><\/td>\n<\/tr>\n
Child element<\/span><\/td>\n2,780<\/span><\/td>\n2,780<\/span><\/td>\n0<\/span><\/td>\n<\/tr>\n
Disabled child element<\/span><\/td>\n3,175<\/span><\/td>\n3,140<\/span><\/td>\n35<\/span><\/td>\n<\/tr>\n
Severely disabled child<\/span><\/td>\n1,290<\/span><\/td>\n1,275<\/span><\/td>\n15<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n\n\n
Income thresholds<\/strong><\/span><\/td>\n2017-18 <\/strong><\/span><\/p>\n

\u00a3\u00a0per year<\/strong><\/span><\/td>\n

2016-17 <\/strong><\/span><\/p>\n

\u00a3 per year<\/strong><\/span><\/td>\n

Change<\/strong><\/span><\/td>\n<\/tr>\n
First income threshold<\/span><\/td>\n6,420<\/span><\/td>\n6,420<\/span><\/td>\n0<\/span><\/td>\n<\/tr>\n
First withdrawal rate (percent)<\/span><\/td>\n41%<\/span><\/td>\n41%<\/span><\/td>\n0<\/span><\/td>\n<\/tr>\n
First threshold for those entitles to Child Tax Credit only<\/span><\/td>\n16,105<\/span><\/td>\n16,105<\/span><\/td>\n0<\/span><\/td>\n<\/tr>\n
Income disregard<\/span><\/td>\n2,500<\/span><\/td>\n2,500<\/span><\/td>\n0<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

As announced in Budget 2010, the baby element of the Child Tax Credit will be removed from April 2011<\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Tax Credits   Working and Child Tax Credits Rates and Thresholds Working Tax Credit 2017-18 \u00a3 per year 2016-17 \u00a3\u00a0per 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 … <\/p>\n

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