Tax credits

	2011/12	2010/11
Working tax credit
Basic element	£1,920	£1,920
Couple and lone parent element	£1,950	£1,890
30 hour element¹	£790	£790
Disabled worker element	£2,650	£2,570
Severe disability element	£1,130	£1,095
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%	80%
Child tax credit
Child tax credit family element	£545	£545
Family element, baby addition	Withdrawn	£545
Child element	£2,555	£2,300
Income thresholds and withdrawal rate
First income threshold	£6,420	£6,420
First withdrawal rate	41%	39%
Second income threshold	£40,000	£50,000
Second withdrawal rate	41%	6.67%
First threshold for those entitled to child tax credit only	£15,860	£16,190
Income disregard	£10,000	£25,000

1) This reduces to 16 hours for those 60 and over.

Tax rates and allowances