TCM4000 Reference Section | Inland Revenue Rates and Allowances |
Tax Credits |
Working Families' Tax Credit (WFTC) | per Week 2000-01 |
per Week from 10 April 2001 |
per Week from 4 June 2001 |
|||
Basic tax credit | £53.15 | £54.00 | £59.00 | |||
30-hour tax credit | £11.25 | £11.45 | £11.45 | |||
Child tax credits Under 16 (note 1) | £25.60 | £26.00 | £26.00 | |||
16-18 | £26.35 | £26.75 | £26.75 | |||
Disabled child tax credit (note 2) | £22.25 | £30.00 | £30.00 | |||
Enhanced Disability Tax Credit (lone parent / couple) | n/a | £16.00 | £16.00 | |||
Enhanced Disability Tax Credit (child) (note 3) | n/a | £41.05 | £41.05 | |||
Maximum eligible childcare costs allowed - 1 child (note 4) | £100.00 | £100.00 | £135.00 | |||
Maximum eligible childcare costs allowed - 2 or more children (note 4) | £150.00 | £150.00 | £200.00 | |||
Income threshold | £91.45 | £92.90 | £92.90 |
Note 1 For awards starting from June 2000 for 2000-01 Note 2 From October 2000 Note 3 Includes the disabled child tax credit for relevant awards starting from April 2001 Note 4 Childcare tax credit is 70% of eligible childcare costs allowed |
Disabled Person's Tax Credit (DPTC) | per Week 2000-01 |
per Week from 10 April 2001 |
per Week from 4 June 2001 |
|||
Single person basic tax credit | £55.15 | £56.05 | £61.05 | |||
Lone parent/couple basic tax credit | £84.90 | £86.25 | £91.25 | |||
30-hour tax credit | £11.25 | £11.45 | £11.45 | |||
Child tax credits Under 16 (note 1) | £25.60 | £26.00 | £26.00 | |||
16-18 | £26.35 | £26.75 | £26.75 | |||
Disabled child tax credit | £22.25 | £30.00 | £30.00 | |||
Enhanced Disability Tax Credit (lone parent / couple) | n/a | £16.00 | £16.00 | |||
Enhanced Disability Tax Credit (single person) | n/a | £11.05 | £11.05 | |||
Enhanced Disability Tax Credit (child) (note 2) | n/a | £41.05 | £41.05 | |||
Maximum eligible childcare costs allowed - 1 child (note 3) | £100.00 | £100.00 | £135.00 | |||
Maximum eligible childcare costs allowed - 2 or more children (note 3) | £150.00 | £150.00 | £200.00 | |||
Income threshold - single person | £71.10 | £72.25 | £72.25 | |||
Income threshold - lone parent / couple | £91.45 | £92.90 | £92.90 |
Note 1 For awards starting from June 2000 for 2000-01 Note 2 Includes the disabled child tax credit for relevant awards starting from April 2001 Note 3 Childcare tax credit is 70% of eligible childcare costs allowed |
Children's Tax Credit (CTC) | 2000 - 2001 | 2001 - 2002 | ||
n/a | £5,200 |
This figure replaces the amount (£4,420) of CTC for 2001-02 previously announced. The maximum CTC reduction for 2001-02 will be £520.00. If the claimant's income exceeds the basic rate limit, their entitlement to CTC will be reduced. For tax year 2002-03 it is proposed there will be an additional amount of CTC £5,200 available for the tax year of a qualifying childs birth. This additional amount will be added to the normal level of CTC (currently also £5,200) and will be available in relation to that child for one tax year only. |
Source: HM Government Inland Revenue |