|
|
Working and Child Tax Credits rates
|
£ per year (unless stated)
|
2004-05 |
2005-06 |
| Working Tax Credit |
|
Basic element |
£1,570 |
£1,620 |
|
Couple and lone parent element |
£1,545 |
£1,595 |
|
30 hour element |
£640 |
£660 |
|
Disabled worker element |
£2,100 |
£2,165 |
|
Severe disability element |
£890 |
£920 |
|
50+ Return to work payment (16-29 hours) |
£1,075 |
£1,110 |
|
50+ Return to work payment (30+ hours) |
£1,610 |
£1,660 |
| Childcare element of the Working Tax Credit |
|
Maximum eligible cost for one child |
£135 per week |
£175 per week |
|
Maximum eligible cost for two or more children |
£200 per week |
£300 per week |
| Percentage of eligible costs covered |
70% |
70% |
| Child Tax Credit Family element |
£545 |
£545 |
| Family element, baby addition |
£545 |
£545 |
| Child element |
£1,625 |
£1,690 |
| Disabled child element |
£2,215 |
£2,285 |
| Severely disabled child element |
£890 |
£920 |
| Income thresholds and withdrawal rates |
| First income threshold |
£5,060 |
£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 |
£13,480 |
£13,910 |
| Income disregard |
£2,500 |
£2,500 |
|
Child Benefit/Guardian Allowance
|
£ per week
|
2004-05 |
2005-06 |
|
Eldest/Only Child |
£16.50 |
£17.00 |
|
Other Children |
£11.05 |
£11.40 |
|
Eldest/Only Child (Lone Parent Rate) |
£17.55 |
£17.55 |
|
Guardian's Allowance |
£11.85 |
£12.20 |
|
|
