Tax credits, Child Benefit and Guardian's Allowance

Rates and thresholds

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

Working Tax Credit - £ per year (unless stated)
Rates and Thresholds April 2011 April 2012
Basic element £1,920 £1,920
Couple and lone parent element £1,950 £1,950
30 hour element £790 £790
Disabled worker element £2,650 £2,790
Severe disability element £1,130 £1,190
50+ Return to work payment(16-29 hours) £1,365 Withdrawn
50+ Return to work payment(30+ hours) £2,030 Withdrawn

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Childcare element of the Working Tax Credit - £ per year (unless stated)
Rates and Thresholds April 2011 April 2012
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% 70%

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Child Tax Credit - £ per year (unless stated)
Rates and Thresholds April 2011 April 2012
Child Tax Credit Family element £545 £545
Child element £2,555 £2,690
Disabled child element £2,800 £2,950
Severely disabled child element £1,130 £1,190

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Income thresholds and withdrawal rates - £ per year (unless stated)
Rates and Thresholds April 2011 April 2012
First income threshold £6,420 £6,420
First withdrawal rate (per cent) 41% 41%
Second income threshold £40,000 Withdrawn
Second withdrawal rate (per cent) 41% -
First threshold for those entitled to Child Tax Credit only £15,860 £15,860
Income rise disregard £10,000 £10,000
Income fall disregard - £2,500

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Child Benefit - £ per week
Rates April 2011 April 2012
Eldest/Only Child £20.30 £20.30
Other Children £13.40 £13.40

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Guardian's Allowance - £ per week
Rates April 2011 April 2012
Guardian’s Allowance £14.75 £15.55