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Children's tax credit
Replaced by Child Tax Credit in April 2003, children's tax credit is aimed at anyone with a child under 16, regardless of their marital status. The credit replaced the married couples allowance in April 2001 and is worth up to £545 per year.The tax credit has been criticised as 'anti family' because a household in which one person stays at home to look after the children will be excluded if the other goes out to work and earns more than £50,000. By contrast, a household in which both work and each earn £30,000 - bringing total household income to £60,000 - will still be eligible.
Similar MatchesChildren's bonus bondChildren's bonus bond
See 'baby bond'.
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