Working
Tax Credit - £ per year (unless stated) |
Rates and Thresholds |
2007-08 |
2006-07 |
| Basic
element |
1,730 |
1,665 |
| Couple
and lone parent element |
1,700 |
1,640 |
| 30
hour element |
705 |
680 |
| Disabled
worker element |
2,310 |
2,225 |
| Severe
disability element |
980 |
945 |
| 50+
Return to work payment
(16-29 hours) |
1,185 |
1,140 |
| 50+
Return to work payment
(30+ hours) |
1,770 |
1,705 |
Childcare
Element of the Working Tax Credit
- £ per year (unless stated) |
Rates
and Thresholds |
2007-08 |
2006-07 |
| 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 |
1,845 |
1,765 |
| Disabled
child element |
2,440 |
2,350 |
| Severely
disabled child element |
980 |
945 |
Income
thresholds and withdrawal rates
- £ per year (unless stated) |
Rates
and Thresholds |
2007-08 |
2006-07 |
| First
income threshold |
5,220 |
5,220 |
| 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 |
14,155 |
| Income
disregard |
25,000 |
25,000 |
| Child
Benefit/Guardian Allowance - £ per week |
Rates |
2007-08 |
2006-07 |
| Eldest/Only
Child |
£18.10 |
£17.45 |
| Other
Children |
£12.10 |
£11.70 |
| Eldest/Only
Child (Lone Parent Rate) |
Abolished |
£17.55 |
| Guardian’s
Allowance |
£12.95 |
£12.50 |
| |
