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|Working Tax Credit|
|Basic element – max.||1,920||1,920|
|Childcare element 70% of eligible costs up to £175 per week (£300 if two or more children).|
|Child Tax Credit (CTC)|
|Child element per child – max.||2,720||2,690|
Reductions in maximum rates
41% of income above £6,420* p.a.
*If only CTC is claimed, the threshold is £15,910 (£15,860) p.a. The family element of CTC tapers immediately after the child element from April 2012. The withdrawal rate is 41%.