TCTM07050 - Calculation of entitlement: Step 4 - Summary for the total tax credits due for each entitlement period
The Tax Credits (Income Thresholds and Determination of Rates) Regulation 2002, Regs 7(3) Step 12, and 8(3) Step 8
The actual tax credits entitlement for a relevant period is found by comparing the family’s income for the relevant period with the income threshold for the relevant period.
The total tax credits due for each entitlement period is the sum of the amounts of
- WTC work elements
- WTC child care elements
- CTC child elements
- CTC family elements
Calculated in step 3 (TCTM07040).
See worked example (TCTM07APPX2)