Tax Credits

 

2013/14
£

2012/13
£

Working Tax Credit
Basic element – max.

1,920

1,920

Childcare element
80% of eligible costs up to £175 per week (£300 if two or more children).

Child Tax Credit (CTC)
Child element

 

 

per child – max.

2,720

2,690

Family element

545

545

Reductions in maximum rates
41% of income above £6,420* p.a.

*If only CTC is claimed, the threshold is £15,910 p.a. The family element of CTC tapers immediately after the child element from April 2012. This withdrawal rate is 41%.

We offer a free initial meeting to discuss your needs - if you are interested please Contact Us

 

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