Income Tax Credits 2005 2006

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We are also regulated for a range of investment business activities by the Institute of Chartered Accountants of Scotland.

Tax Data 2005 / 2006

TAX CREDITS

	2005/06	2004/05
	£	£
Working tax credit (WTC)
Basic element - max.	1,620	1,570
Childcare element - 70% of eligible costs to a max. of £175 (£135) per week (£300 (£200) if two or more children)
Child tax credit (CTC)
Child element per child - max.	1,690	1,625
Family element	545	545
Baby addition	545	545
Reductions in maximum rates 37% of income above £5,220* (£5,060) p.a.