Tax credits

Working tax credit
  2014/15 2013/14
Basic element £1,940 £1,920
Couple and lone parent element £1,990 £1,970
30 hour element1 £800 £790
Disabled worker element £2,935 £2,855
Severe disability element £1,255 £1,220
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 £2,750 £2,720
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 £16,010 £15,910
Income rise disregard £5,000 £5,000
Income fall disregard £2,500 £2,500