The tax credit threshold (£10)

The_Write_Girl

I've asked this question previously but didn't get any replies, so perhaps someone can help tonight?

The £10 (child) tax credit is awarded to families with a larger income - can anyone tell me the exact figure at which this £10 is withdrawn?

Caz3121

depends on how many children - sample here http://www.hmrc.gov.uk/taxcredits/people-advise-others/entitlement-tables/work-and-child/work-no-childcosts.htm

MrsManda

To add to above, the income thresholds are changing April 2012 so if you have one child and a household income above £26,000 you may not receive any CTC.

http://www.direct.gov.uk/en/MoneyTaxAndBenefits/TaxCredits/DG_194914

zagfles

The_Write_Girl wrote: »

I've asked this question previously but didn't get any replies, so perhaps someone can help tonight?

The £10 (child) tax credit is awarded to families with a larger income - can anyone tell me the exact figure at which this £10 is withdrawn?

£40,000 this year. That's when it starts being withdrawn, it's tapered at 41% so it's all gone at about £41300.

Next year the family element (ie the £545pa, £10pw) won't have a separate threshold, it'll be lumped in with the rest of tax credits, so most people who only get the family element will lose it in April.