Tel : 01606 810729
Fax : 01606 810475
Tax Credits
Registered by the Institute of Chartered Accountants in England and Wales to carry out company audit work
Registered Office : 98 Middlewich Rd, Northwich, Cheshire, CW9 7DA
Tel : 01606 810729 - Fax : 01606 810475 - Email: general@buxtonaccounting.co.uk
Members : D.W. Buxton B.Sc.(Jt Hons) ACA - G.J. Glover - LLP OC 308268 - Registered in England and Wales
Registered Office : 98 Middlewich Rd, Northwich, Cheshire, CW9 7DA
Tel : 01606 810729 - Fax : 01606 810475 - Email: general@buxtonaccounting.co.uk
Members : D.W. Buxton B.Sc.(Jt Hons) ACA - G.J. Glover - LLP OC 308268 - Registered in England and Wales
© Buxton Accounting LLP 2007
ICAEW
Inland Revenue
2007/2008 (£)
2006/2007 (£)
Working Tax Credit (WTC)
Basic element - max.
Childcare element
80% (70%) of eligible costs up to £175 (£175) per week (£300 (£300) if two or more children)
Childcare element
80% (70%) of eligible costs up to £175 (£175) per week (£300 (£300) if two or more children)
1,730
1,665
Child Tax Credit (CTC)
Child element per child - max.
Family element
Baby addition
Family element
Baby addition
1,765
545
545
545
545
1,845
545
545
545
545
Reductions in maximum rates 37% of income above £5,220*p.a.
*If only CTC is claimed, the threshold is £14,155 p.a. (£13,910). The family element of CTC is not reduced unless income is more than £50,000 p.a. when it is reduced by £1 for every £15 of additional income.
*If only CTC is claimed, the threshold is £14,155 p.a. (£13,910). The family element of CTC is not reduced unless income is more than £50,000 p.a. when it is reduced by £1 for every £15 of additional income.