Article Index
Budget 2006
Personnal Allowances
Taxation of Dividends
Personal Reliefs
Benefits in Kind
Advisroy Fuel Rates for Company Cars
Tax Free Approved Mileage Rates
Enterprise Investment Scheme
Venture Capital Trusts (VCT)
Approved Employee Share Schemes
Individual Savings Accounts (ISA)
Child Trust Fund
Registered Pension Schemes
Personal Pension Plans (PPP) And Retirement Annuity Plans (RAP)
Capital gains tax
Inheritance Tax
Corporation Tax (Corporate Tax)
Corporate Capital Gains
Corporate Venturing Scheme
Construction Industry Scheme
Capital Allowances and Reliefs
Value Added Tax
National Insurance Contributions (NIC)
Tax Credits
Gifts To Charities
Landfill Tax
Insurance Premium Tax
Aggregates Levy
Climate Change Levy
Stamp Duty
Dates For Payment Of Tax
Key Filing Dates

Page 24 of 32

Budget 2006

Tax Credits

Working Tax Credit (WTC)

	2006/07	2005/06
	£	£
Annual
Basic element	1,665	1,620
Second adult or lone parent addition	1,640	1,595
30 hour element	680	660
Disability element	2,225	2,165
Severe disability element	945	920
Age 50+ element working 16-29 hours per week*	1,140	1,110
Age 50+ element working 30+ hours per week*	1,705	1,660
Weekly
Childcare element
maximum eligible cost for 1 child †	175	175
maximum eligible cost for 2 or more children †	300	300

Claimants can be eligible for each element
Claim reduced by 37p for every £1 of annual income over £5,220

* Mutually exclusive
† Reduced to 70% of eligible cost

Child Tax Credit (CTC)

	2006/07	2005/06
	£	£
Annual
Family element (double in year of birth)*	545	545
Child element (per child)†
- disabled child	4,115	3,975
- severely disabled child	5,060	4,895
- any other child	1,765	1,690

*Claim reduced by £1 for every £15 of annual income over £50,000
†Where only CTC available claim reduced by 37p for every £1 of annual income over £14,155 ( £13,910 2005/2005); £5,220 where WTC also available

The figures shown here are subject to ammendment as the Finance Bill passes through Parliament.

This information has been prepared only as a topical guide to tax and personal financial matters. No responsibility can be accepted by us for loss occasioned to any person acting or refraining from acting as a result of any material contained in this publication.

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