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Online Resources > Tax Rates & Allowances >
Tax Credits and Child Benefit
Working
Tax Credit - £ per year (unless stated) |
||
|---|---|---|
Rates and Thresholds |
2008-09 |
2007-08 |
| Basic
element |
1,800 |
1,730 |
| Couple
and lone parent element |
1,770 |
1,700 |
| 30
hour element |
735 |
705 |
| Disabled
worker element |
2,405 |
2,310 |
| Severe
disability element |
1020 |
980 |
| 50+
Return to work payment (16-29 hours) |
1,235 |
1,185 |
| 50+
Return to work payment (30+ hours) |
1,840 |
1,770 |
Childcare
Element of the Working Tax Credit - £ per year (unless stated) |
||
|---|---|---|
Rates
and Thresholds |
2008-09 |
2007-08 |
| Maximum
eligible cost for one child |
£175
per week |
£175
per week |
| Maximum eligible cost for two or more children |
£300
per week |
£300
per week |
| Percentage of eligible costs covered |
80% |
80% |
| Child Tax Credit - £ per annum (unless stated) | ||
| Child
Tax Credit Family element |
545 |
545 |
| Family
element, baby addition |
545 |
545 |
| Child
element |
2,085 |
1,845 |
| Disabled
child element |
2,540 |
2,440 |
| Severely
disabled child element |
1,020 |
980 |
| Income
thresholds and withdrawal rates - £ per year (unless stated) |
||
|---|---|---|
Rates
and Thresholds |
2008-09 |
2007-08 |
| First
income threshold |
6,420 |
5,220 |
| First
withdrawal rate (per cent) |
39% |
37% |
| Second
income threshold |
50,000 |
50,000 |
| Second
withdrawal rate (per cent) |
6.67% |
6.67% |
| First
threshold for those entitled to Child Tax Credit only |
15,575 |
14,495 |
| Income
disregard |
25,000 |
25,000 |
| Child Benefit/Guardian Allowance - £ per week | ||
|---|---|---|
Rates |
2008-09 |
2007-08 |
| Eldest/Only
Child |
£18.80 |
£18.10 |
| Other
Children |
£12.55 |
£12.10 |
| Guardian’s
Allowance |
£13.45 |
£12.95 |
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