Tax credits were introduced in order to help people on low incomes without discouraging hard work, and the idea was to allow benefits to be claimed through HM Revenue and Customs. There are two main tax credits: working tax credit which is available to working people on low incomes, and child tax credit, which is for people with children, whether they are working or not. Child tax credits are available to people on surprisingly high incomes, the basic element being available until family income exceeds £50,000 (in 2009/10 and 2010/11). At that point it is tapered away at the rate of £1 for every £15 of further income (or 6.67%), which gives a cut off point of £58,175. Download the complete factsheet from the 'Related documents' section.