Tax credits

 

Working tax credit
  2015/16 2014/15
Basic element £1,960 £1,940
Couple and lone parent element £2,010 £1,990
30 hour element1 £810 £800
Disabled worker element £2,970 £2,935
Severe disability element £1,275 £1,255
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 70% 70%
Child tax credit
Child tax credit family element £545 £545
Child element £2,780 £2,750
Income thresholds and withdrawal rate
Income threshold £6,420 £6,420
Withdrawal rate 41% 41%
First threshold for those entitled to child tax credit only £16,105 £16,010
Income rise disregard £5,000 £5,000
Income fall disregard £2,500 £2,500