Rates of Tax Credits, income thresholds and withdrawal rates
Rates of Tax Credits, income thresholds and withdrawal rates
| April 2023/24 | April 2024/25 | |
| Tax Credits | ||
| Child Tax Credit family element | £545* (only where there is a child born before 6 April 2017) | £545* (only where there is a child born before 6 April 2017) |
| Child element | £3,235 | £3,455 |
| Disabled child element | £3,905 | £4,170 |
| Severely disabled child element | £1,575 | £1,680 |
| Working Tax Credit basic element | £2,280 | £2,435 |
| Couple/lone parent element | £2,340 | £2,500 |
| 30 hour element | £950 | £1,015 |
| Disabled worker element | £3,685 | £3,935 |
| Severe disability element | £1,595 | £1,705 |
| Childcare element of Working Tax Credit: maximum eligible cost for one child | £175 per week | £175 per week |
| Maximum eligible childcare cost for two or more children | £300 per week | £300 per week |
| Percentage of eligible childcare costs covered | 70% | 70% |
| Tax credit income thresholds and withdrawal rates | ||
| Threshold for maximum Child Tax Credit where neither partner meets conditions for Working Tax Credit | £18,725 | £19,995 |
| 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. If you live in another part of the UK, the law may differ. Please call our helpline for more details. If you are in Northern Ireland you can visit the Labour Relations Agency or call their helpline Workplace Information Service on 03300 555 300.
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