Children's Tax Credit

HC Deb 19 March 1999 vol 327 c642W

Mr. Gibb

To ask the Chancellor of the Exchequer if the children's tax credit allowance will be available for use against investment income. [76657]

Dawn Primarolo

[holding answer 15 March 1999]: The children's tax credit will reduce the income tax liability of the person claiming the credit up to a set amount. In 2001–02, that amount will be £4,160 at 10 per cent. It will be available to be set against income tax due on earnings and on other sources of income.