Wednesday, 8 September 2010

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Working Family Tax Credits

If you and your partner work enough hours a week and your income is low enough then you could be entitled to Working Tax Credits. It doesn’t matter if you’re employed or self-employed (people in work), and you need to have children to apply as these are tax credits for families.

The number of hours a week you have to work to be able to get Working Tax Credit depend on your circumstances. There are four different ways you can qualify:-

  • If you are 16 or over and you work 16 hours or more a week, you can get Working Tax Credit if you are responsible for a child or young person
  • If you are 16 or over and you work 16 hours or more a week, you can also get Working Tax Credit if you are disabled, and you get a qualifying benefit
  • If you are 50 or over, you work 16 hours or more a week and you started work within the last three months, you can get Working Tax Credit if you were getting certain benefits for at least six months before you started work
  • If you are 25 or over and you work 30 hours or more a week you may get Working Tax Credit. In this case, you do not have to have a child in order to claim, but you do have to work enough hours

Rates of Working Tax Credit (UPDATED FOR APRIL 2010)

Element of Working Tax Credit Maximum annual amount from 6 April 2010
Basic element £1,920
Second adult element £1,890
Lone parent element £1,890
30 hour element £790
Disability element £2,570
Severe disability element £1,095
50 plus return to work element  
Working at least 16 hours but under 30 hours per week £1,320
Working 30 hours or more per week £1,965
Childcare element (up to 80% of the maximum):- Maximum weekly amount from 6 April 2010
Maximum weekly eligible cost for one child £175.00 (maximum payable £140.00)
Maximum weekly eligible cost for two or more children £300.00 (maximum payable £240.00)