The Child Tax Credit is available to families who have an income of up to £58,000 per year (up to £66,350 if you have a child under one). 9 out of 10 families are eligible for this tax credit and it is paid in addition to Child Benefit. There is also a higher payment available for families with at least one child under one year old and for families with children that have a disability. Child Tax Credit is paid directly into the bank of the main carer.
Working Tax Credit
The Working Tax Credit provides extra help to those parents in lower paid work with dependent children if they work at least 16 hours a week. This includes a provision for childcare element, for people who spend money on registered or approved childcare. The childcare element of the Working Tax Credit is aimed specifically at helping working parents with the cost of registered and approved childcare.