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Tax Credits
Working Tax Credit
| 2011/12 £ |
2010/11 £ |
|
| Basic element | £1,920 | £1,920 |
| Couple and lone parent |
£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 |
Childcare Element of the Working Tax Credit
| 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
| 2011/12 £ |
2010/11 £ |
|
| Child tax credit family element | £545 | £545 |
| Family element, baby addition | Withdrawn | £545 |
| Child element |
£2,555 | £2,300 |
| Disabled child element |
£2,800 | £2,715 |
| Severely disabled child element |
£1,130 | £1,095 |
Income thresholds and withdrawal rates
| 2011/12 £ |
2010/11 £ |
|
| First income threshold | £6,420 | £6,420 |
| First withdrawal rate (per cent) | 41% | 39% |
| Second income threshold | £40,000 | £50,000 |
| Second withdrawal rate (per cent) |
41% | 6.67% |
| First threshold for those entitled to Child Tax Credit only | £15,860 | £16,190 |
| Income disregard | £10,000 | £25,000 |
Tax Rates and Allowances
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