Rate and Allowances - Credits/ Child Benefit

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

Working Tax Credit - £ per year (unless stated)

Rates and Thresholds	2008-09 (£)	2007-08 (£)
Basic Element	1,800	1,730
Maximum eligible cost for 1 child	£175 per week	£175 per week
Maximum eligible cost for 2 or more children	£300 per week	£300 per week
Percentage of eligible costs covered	80%	80%
Child Tax Credit Family element	£545	£545
Family element, baby addition	£545	£545
Child element	2,085	1,845

Reduction in maximum rates

39% (37%) of income above £6,420 * (£5,220*) p.a.

* If only CTC is claimed, the threshold is £15,575 (£14,495) p.a. The family element of CTC is not reduced unless income is more than £15,000 p.a. when it is reduced by £1 for every £15 of additional income.