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More Tax Credit Confusion
carbonmonoxide
Posts: 166 Forumite
Hi - I wonder if anyone can help? My partner and I have just had our first child. I am currently going through the process of claiming tax credits. My partner will be on maternity leave until June next year so I won't be claiming childcare costs. I am working 35 hours and we both earn around £16,000 pa
She will be going back to work part-time (not sure how many hours yet, perhaps 27) and we will hopefully be putting our child in our employers daycare centre which we will payfor via a salary sacrifice scheme. My question is how can I work out if we will be better off under the salary sacrifice scheme or claiming childcare costs from tax credits? We are also opted in to a pension salary sacrifice which I understand may confuse things even more?
Any help is appreciated. Obviously this is a long way off but I's like to be prepared now. Cheers
She will be going back to work part-time (not sure how many hours yet, perhaps 27) and we will hopefully be putting our child in our employers daycare centre which we will payfor via a salary sacrifice scheme. My question is how can I work out if we will be better off under the salary sacrifice scheme or claiming childcare costs from tax credits? We are also opted in to a pension salary sacrifice which I understand may confuse things even more?
Any help is appreciated. Obviously this is a long way off but I's like to be prepared now. Cheers
0
Comments
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Use this calculator to check if you would be better off claiming from tax credits or childcare vouchers scheme.
http://ccincalculator.hmrc.gov.uk/CCIN0.aspx
I would guess from your salaries you would be better off using the vouchers but best to double check anyway.0
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