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Tax Credits Fact Sheet

How WTC is calculated

Add together all the elements of WTC you are entitled to give a “maximum” amount you might receive.

Comparing your annual income from the previous tax year with the threshold figure of £5,220 (£100.38 a week) to arrive at the actual amount you will receive.

If your income is at or below the threshold figure, you will get maximum WTC.

If it was above the threshold, maximum WTC is reduced by 37p for every £1 of excess income.

How are Working Families Tax Credit and Child Tax Credit paid?

WTC is paid by your employer through the payroll

Child Tax Credit is paid direct into your bank account, either weekly or four-weekly, whichever you choose.

If you are self-employed, both will be paid direct into your bank account.

How to apply

Details on how to apply can be found on the DirectGov website.


More pages

Page 1: Introduction
Page 2: How WTC is calculated

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