Graeme M Fraser & Company - Chartered Accountants

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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
£20.00 from 5/1/09
£18.10
Other Children
£12.55
£13.20 from 5/1/09
£12.10
Guardian’s Allowance
£13.45
£12.95

 
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