Tax Credits
| |
2015/16
|
2014/15
|
| |
£
|
£
|
| Working Tax Credit |
|
|
| Basic element - max. |
1,960 |
1,940 |
Childcare element
70% of eligible costs up to £175 per week (£300 if two or more children). |
|
|
| Child Tax Credit (CTC) |
|
|
| Child element per child - max. |
2,780 |
2,750 |
| Family element |
545 |
545 |
| |
|
|
Reduction in maximum rates
41% of income above £6,420* p.a.
*If only CTC is claimed, the threshold is £16,010 p.a. (2014/15)