Tax Credits
| Working Tax Credit |
|
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 |
£1,020 |
£980 |
| Childcare element of Working Tax Credit |
| Maximum eligible cost for one child |
£175 p.w |
£175 p.w |
| Maximum eligible cost for two or more children |
£300 p.w |
£300 p.w |
| Percentage of eligible costs covered |
80% |
80% |
| Child Tax Credit |
| Child Tax Credit family element |
£545 |
£545 |
| Family element, baby addition |
£545 |
£545 |
| Child element |
£2,085 |
£1,845 |
| Income Thresholds and Withdrawal Rate |
| First income threshold |
£6,420 |
£5,220 |
| First withdrawal rate |
39% |
37% |
| Second income threshold |
£50,000 |
£50,000 |
| Second withdrawal rate |
6.67% |
6.67% |
| First threshold for those entitled to Child Tax Credit only |
£15,575 |
£14,495 |
| Income disregard |
£25,000 |
£25,000 |
2008/09 Rates and Allowances
Main taxes
Vehicles
Savings
Other taxes
Giving, credits and benefits
