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

Working Tax Credit (1) - £ per year

Rates and Thresholds
2015 / 16
2016 / 17
Basic element
£1,960
£1,960
Couple and lone parent element
£2,010
£2,010
30 hour element
£810
£810
Disabled worker element
£2,970
£2,970
Severe disability element
£1,275
£1,275

(1) Aged over 16 working 16 or more hours per week if responsible for a child or disabled, or aged over 25 working 30 hours per week, or aged over 60 working 16 or more hours per week.


Childcare element of the Working Tax Credit

Rates and Thresholds
2015 / 16
2016 / 17
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 - limited to
70%
70%


Child Tax Credit (2) - £ per year

Rates and Thresholds
2015 / 16
2016 / 17
Child Tax Credit Family element
£545
£545
Child element
£2,780
£2,780
Disabled child element
£3,140
£3,140
Severely disabled child element
£1,275
£1,275

(2) One or more children under 16 or under 20 in defined further education. Paid direct to main carer.


Tax Credit Income Thresholds and Withdrawal Rates

Rates and Thresholds
2014 / 15
2016 / 17
First income threshold
£6,420
£6,420
First withdrawal rate
41%
41%
First threshold for those entitled to Child Tax Credit only
£16,010
£16,105
Income disregard
£5,000
£2,500
Income fall disregard
£2,500
£2,500