Nine out of ten families are eligible for some financial assistance through the new Child Tax Credit and Working Tax Credit. The amount you receive will depend on your circumstances.
Families with children can claim Child Tax Credit if their income is no more than £58,175 a year (up to £66,350 if you have a child under one).
The amount you get depends on various things, including your annual income and is paid directly into the bank of the main carer.
The other tax credit you may be entitled to, if either you or your partner is working, is called Working Tax Credit.
It includes a childcare element to help families who are working and spending money on childcare.
Find out more:
You'll need to know the following details before you use the calculator:
- your income
- your partner’s income
- your working hours
- any benefits you’re claiming, or have just stopped claiming
- the average weekly amount you spend on childcare