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  1. Feb 29, 2024 · Updated 29 February 2024. These tables show rates and allowances for tax credits, Child Benefit and Guardian’s Allowance by tax year (6 April to 5 April). Working Tax Credit rates. The maximum...

    • Overview
    • Details

    Find out the rates, thresholds and allowances for tax credits, Child Benefit and Guardian's Allowance.

    This document is classified by HMRC as guidance and contains information about the rates payable for:

    •Working Tax Credit

    •Child Tax Credit

    •Child Benefit

    •Guardian’s Allowance

    It also gives information about tax credit income thresholds and the childcare element of Working Tax Credit.

  2. Jul 13, 2023 · Tax credits are made up of Working Tax Credit (WTC) and Child Tax Credit (CTC), explained below. Working Tax Credit (WTC) Provides in-work support for people on low incomes, with or...

  3. Rates and allowances: tax credits, child benefit and guardian's allowance from gov.uk. See the Institute for Fiscal Studies website for benefit rates from 1939.

  4. Feb 5, 2021 · The draft Tax Credits, Child Benefit and Guardian’s Allowance Uprating Regulations 2021 would set the annual rates of child tax credit and working tax credits from 6 April 2021, and the weekly rates of child benefit and guardian’s allowance from 12 April 2021.

  5. Income threshold for families who meet conditions for both tax credits. £7,455. £7,955. Withdrawal rate (this is the percentage of your income ABOVE the threshold which is taken off your tax credit award) 41%. 41%. This advice applies in England, Wales and Scotland.

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  7. Apr 6, 2024 · The way your tax credit award for the year is calculated is based on the same principles explained on this page but the income figures used may be calculated in a different way. See our in-year finalisation page for more information. Tax credit awards are made up of a number of elements.

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