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Working Families Tax Credits
 
Note
 Working Tax Credit
£ per year
from
2006 - 07
£ per year
from
2007 - 08

 
Basic Tax Credit
1665
1730

 
30 Hour Tax Credit
680
705
 
 		 Couple and Lone Parent Element 16401700 

 
Disabled Worker Element
2,225
2,310

 
Severe Disability Element
945
980

 
50+ Return to Work Payment
(16-29 hours per week)
1,140
1,185

 
50+ Return to Work Payment
(30+ hours per week)
1,705
1,770
    

 		Childcare Element of Working Tax Credit  
 
Maximum Eligible Childcare Tax
Costs Allowed (1 child)
175 (per week)
175 (per week)
 
Maximum Eligible Childcare Tax
Costs Allowed (2 or more children)
300 (per week)
300 (per week)

 
Percentage of Eligible Costs Covered
80%
80%






See Below For

Tax Credits Table









 		Child Tax Credit Rates and Thresholds£ per year
2006 - 07		£ per year
2007 - 08
 
Child Tax Credit Family Element
545
545
 Family Element, Baby Addition545545
 Child Element1,7651,845
 
Disabled Child Element
2,350
2,440
 
Severely Disabled Child Element
945
980


 		Income Thresholds and Withdrawal Rates£ per year
2006 - 07		£ per year
2007 - 08
 
First Income Threshold
5,220
5,220
 First Withdrawal Rate (percent)37%37%
 Second Income Threshold50,00050,000
 
Second Withdrawal Rate (percent)
6.67%
6.67%
 
First Threshold if Entitled to Child Tax Credit Only
14,155
14,495
 Income Disregard25,00025,000

 


 		Child Benefit / Guardian Allowance£ per week
2006 - 07		£ per week
2007 - 08
 
Eldest / Only Child
17.45
18.10
 Other Children11.7012.10
 Eldest / Only Child (Lone Parent Rate)17.55No longer available
 
Guardian's Allowance
12.50
12.95

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