Confused about childcare element...

gt568

I'm probably being a biff:o ....

I'm trying to work out if we can get help with the childcare element of our tax credits...

Both of us work more than 16 hours per week...

what I am after is some kind of table stating the earnings breakdown to qualify for the childcare element...ie, what is the maximum we can earn and still be able to claim IYSWIM....

Thanks...

[Deleted User]

If between you the household income is less than £17392, you will qualify for the maximum 80% towards childcare cost. However there is a maximum limit you can claim for.

£175 p/w for one child or £300 p/w for 2 or more children. 80% of these will equate to maximum £140 p/w for one child and £240 p/w for 2 or more children.

Every £1 earned above this threshold would deduct 39p from your total yearly award.

It is not really possible to have a table to work out how best to work out your income and your childcare costs as each family is different - number of kids, hours worked, childcare costs, disablities, underpayments, overpayments etc...

gt568

So with an income of say £35000 it is unlikely we would get any help?

[Deleted User]

Unless you had quite a few kids with high childcare costs it is unlikely you would get any help.