Tax Credits

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TAX CREDITS

If you are looking at Tax Credits and reviewing or planning your finances, please feel free to contact us. We can discuss your specific circumstances to help you plan tax efficiently.

Working Tax Credit

Rates2018/192019/20
Basic element £1,960 £1,960
Couple and lone parent element £2,010 £2,010
30 hour element £810 £810
Disabled worker element £3,090 £3,165
Severe disability element £1,330 £1,365

Childcare Element of Tax Credit

Rates2018/192019/20
Maximum eligible cost for one child £175 per week £175 per week
Maximum eligible cost for two or more children £300 per week £300 per week
Percentage of eligible costs covered 70% 70%

Child Tax Credits Rates

Rates2018/192019/20
Child Tax Credit Family £545 £545
Child element £2,780 £2,780
Disabled child element £3,275 £3,355
Severely disabled child element £4,600 £4,715

Tax Credits Income Thresholds

Rates2018/192019/20
First income threshold £6,420 £6,420
First withdrawal rate (per cent) 41% 41%
First threshold for those entitled to Child Tax Credit only £16,105 £16,105
Income rise disregard £2,500 £2,500
Income fall disregard £2,500 £2,500

Child Benefits Rates (Weekly)

Rates2018/192019/20
Eldest Only Child £20.70 £20.70
Other Children £13.70 £13.70

Guardian’s Allowance Rates (Weekly)

Rates2018/192019/20
Guardian's Allowance £17.20 £17.60

Our service to you

If you are a self employed, business owner/director of company looking to get your accountancy and taxation matters sorted, look no further. We are pro-active and easily accessible accountants and tax advisors, who will not only ensure that all your filing obligations are up to date with Companies House and HMRC, but also you do not pay a penny more in taxes than you have to. We work on a fixed fee basis and provide same day response to all your phone and email enquiries. We will also allocate a designated accounts manager who would have better understanding of your and business financial and taxation affairs. Book a free consultation call using the link below.

Related pages:

Get further information from the following pages;

Universal Credits

Income Tax Rates

Income Tax Allowances

Related Blogs:

Get further information from the following blogs;


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