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Child Tax Credits
Child Tax Credit is a payment for people with children, whether they are in or out of work. It is paid by HM Revenue and Customs (HMRC). You can get Child Tax Credit if your income is low enough and you are responsible for at least one child. You will get money from Child Tax Credit for each child. You do not need to have a very low income to get some help from Child Tax Credit, so most people with children get the credit
If you have at least one child in your care and you are over 16 then you should be eligible for Child Tax Credit. This means a child under 16, or a young person up to the age of 19 who is in full-time education. You may also get Child Tax Credit for a young person who has been accepted on one of these courses. You can also get Child Tax Credit for a young person aged under 18 who has registered with the Careers Service, if they have left school within the last 20 weeks.
Your personal circumstances as well as the amount you earn will determine how much Child Tax Credit you are entitled to. Although your savings do not affect your entitlement directly, any interest gained from savings will be classed as income. Some of your income will not be taken into account when your Child Tax Credit is being worked out. Child Benefit, maintenance payments, Maternity Allowance will be disregarded together with most Statutory Maternity Pay, Statutory Paternity Pay and Statutory Adoption Pay.
Rates of Child Tax Credits (UPDATED FOR APRIL 2010)
Maximum amount of Child Tax Credit from 6 April 2010
- Family element £545
- Higher family element (if family contains child under one) £545
- Child element:
- For each child £2,300
- For each disabled child £2,715
- For each severely disabled child £1,095