The rates and thresholds of the tax credits are shown below.

Working Tax Credit (1) - £ per year

Rates and Thresholds
2011/12
2010/11
Basic element
£1,920
£1,920
Couple and lone parent element
£1,950
£1,890
30 hour element
£790
£790
Disabled worker element
£2,650
£2,570
Severe disability element
£1,130
£1,095
50+ Return to work payment (16-29 hours)
£1,365
£1,320
50+ Return to work payment (30+ hours)
£2,030
£1,965

(1) Aged over 16 working 16 or more hours per week if responsible for a child or disabled, or aged over 25 working 30 hours per week, or aged over 60 working 16 or more hours per week.


Childcare element of the Working Tax Credit
Rates and Thresholds
2011/12
2010/11
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
70%
80%


Child Tax Credit (2) - £ per year
Rates and Thresholds
2011/12
2010/11
Child Tax Credit Family element
£545
£545
Family element, baby addition
-
£545
Child element
£2,555
£2,300
Disabled child element
£2,800
£2,715
Severely disabled child element
£1,130
£1,095

(2) One or more children under 16 or under 20 in defined further education. Paid direct to main carer.


Tax Credit Income Thresholds and Withdrawal Rates

Rates and Thresholds
2011/12
2010/11
First income threshold
£6,420
£6,420
First withdrawal rate
41%
39%
Second income threshold
£40,000
£50,000
Second withdrawal rate
41%
6.67%
First threshold for those entitled to Child Tax Credit only
£15,860
£16,190
Income disregard
£10,000
£25,000