Tax Credits

Winters Chartered Accountants and Registered Auditors
29 Ludgate Hill
London EC4M 7JE
England, UK

Tel:
+44 (0) 20 7919 9100

Fax:
+44 (0) 20 7919 9019

Tax Credits

	2005/06 £	2004/05 £
Working Tax Credit (WTC)
Basic element - max.	1,620	1,570
Childcare element 70% of eligible costs to a max. of £175 (£135) per week (£300 (£200) if two or more children)
Child Tax Credit (CTC)
Child element per child - max.	1,690	1,625
Family element	545	545
Baby addition	545	545

Reductions in maximum rates 37% of income above £5,220*(£5,060)p.a.

*If only CTC is claimed, the threshold is £13,910 p.a. (£13,480). The family element of CTC is not reduced unless income is more than £50,000 p.a. when it is reduced by £1 for every £15 of additional income.

Disclaimer
The information on these tax rates is based upon the 2005 Budget and other earlier announcements and may be subject to amendment by the Finance Act.

If you would like to find out more about our services and how we might be able to assist you, please complete the tax contact form .
We can then have the relevant specialist contact you to briefly discuss your needs. Any such telephone discussion, and of course, any further initial consultation is entirely complimentary.