Tax Credits/Child Benefit

The rates and thresholds of the tax credits are shown below.

Working Tax Credit - £ per year (unless stated)
Rates and Thresholds 2007-08 2008-09
Basic element £1,730 £1,800
Couple and lone parent element £1,700 £1,770
30 hour element £705 £735
Disabled worker element £2,310 £2,405
Severe disability element £980 £1,020
50+ Return to work payment (16-29 hours) £1,185 £1,235
50+ Return to work payment (30+ hours) £1,770 £1,840
Childcare element of the Working Tax Credit - £ per year (unless stated)
Rates and Thresholds 2007-08 2008-09
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 year (unless stated)
Rates and Thresholds 2007-08 2008-09
Child Tax Credit Family element £545 £545
Family element, baby addition £545 £545
Child element £1,845 £2,085
Disabled child element £2,440 £2,540
Severely disabled child element £980 £1,020
Income thresholds and withdrawal rates - £ per year (unless stated)
Rates and Thresholds 2007-08 2008-09
First income threshold £5,220 £6,420
First withdrawal rate (per cent) 37% 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 £14,495 £15,575
Income disregard £25,000 £25,000
Child Benefit/Guardian Allowance - £ per week
Rates 2007-08 2008-09
Eldest/Only Child £18.10 £18.80
Other Children £12.10 £12.55
Guardian's Allowance £12.95 £13.45