Nursery World - Working Families Tax Credit explained

WFTC is a credit for low-and middle-income families. Its elements, including Budget increases coming into effect in June, are: * A basic tax credit of 59pw (one per family) * A 30 hours credit of Pounds 11.45pw (where one earner works at least 30 hours per week) * A credit of 26pw for each child aged under 16 * A childcare credit of up to 70 per cent of eligible childcare costs to a maximum of 135pw for one child and 200 for two or more children.

* A basic tax credit of 59pw (one per family) * A 30 hours credit of 11.45pw (where one earner works at least 30 hours per week) * A credit of 26pw for each child aged under 16 * A childcare credit of up to 70 per cent of eligible childcare costs to a maximum of 135pw for one child and 200 for two or more children.

To qualify for WFTC, families have to:

* Have one or more children

* Work at least 16 hours a week. Both parents don't have to be working

* Reside in the UK and be entitled to work here

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