01494 863620 
karen@barrys.biz 

Tax Facts - Pensions & Tax Credits 

Registered Pension Schemes 
Individual Contributions 2016-17 and 2015/16 
Maximum tax-relievable contributions are the higher of: 
100% of taxable UK earnings (max £40,000), or 
£3,600 (gross)  
Annual allowance 
£40,000 
The limit may be reduced to £10,000 once money purchase pensions are accessed. Any unused annual allowance can be carried forward for up to 3 years. 
Tax Credit 
 
Annual Amount 2016/17 
Child tax credit 
£ 
Family element 
545 
Child element (for each child) 
2,780 
Disabled child element 
3,140 
Severely disabled child element 
1,275 
Working tax credit 
£ 
Basic element 
1,960 
Childcare element (up to 70% of costs) 
Weekly 
Maximum eligible cost (1 child) 
175 
Maximum eligible cost (2 or more) 
300 
Income thresholds 
£ 
First income threshold 
6,420 
Eligible for child tax credit only 
16,105 
Income rise disregard 
5,000 
Incoem fall disregard 
2,500 
 
Services 
 
Tax Facts 
Designed and created by it'seeze
Our site uses cookies. For more information, see our cookie policy. Accept cookies and close
Reject cookies Manage settings