Home > > 2008/09 Rates and Allowances > Tax Credits
Tax Credits
| Working Tax Credit | ||
| 2008/09 | 2007/08 | |
|---|---|---|
| Basic Element | £1,800 | £1,730 |
| Couple and lone parent element | £1,770 | £1,700 |
| 30 hour element | £735 | £705 |
| Disabled worker element | £2,405 | £2,310 |
| Severe disability element | £1,020 | £980 |
| 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 | 80% | 80% |
| Child Tax Credit | ||
| Child Tax Credit family element | £545 | £545 |
| Family element, baby addition | £545 | £545 |
| Child element | £2,085 | £1,845 |
| Income Thresholds and Withdrawal Rate | ||
| First income threshold | £6,420 | £5,220 |
| First withdrawal rate | 39% | 37% |
| Second income threshold | £50,000 | £50,000 |
| Second withdrawal rate | 6.67% | 6.67% |
| First threshold for those entitled to Child Tax Credit only | £15,575 | £14,495 |
| Income disregard | £25,000 | £25,000 |
2008/09 Rates and Allowances
Main taxes
- Key dates and deadlines
- Income tax
- Corporation tax
- Inheritance tax
- Capital gains tax
- Value added tax
- NI contributions
- Residential property letting taxation
- Main capital allowances
- Business deductions
- Penalties for late returns
- Trusts & settlements
- Non domiciled individuals