Advice on tax credits etc - first baby due in August!

SomersetPrincess · 22 February 2006 at 1:28PM

Hello all! I am hoping you will be able to help me (27) and DF (33) are expecting our first baby at the end of August. I currently work full time (37.5 hours - £21,000) as does my DF (37+ hours - £23,000) and we are starting to try and work out whether I can realiostically go back to work part time or if I could even maybe give up work when baby is born. We have quite afew debts (getting credit cards and loans paid off - dont use the cards anymore, so just old debt) but we dont own our hous e- we rent privately. Does anyone have any useful advice on how we can find our what sort of money I would be entitled to if I went back to work part time (maybe 21 hours a week) or not at all. I assume stay at home mums arent entited to Job Seekers allowance or anequivalent??

Sorry to be so dim, but I have been in continuous work since I was 16 and havent ever really looked into what benefits etc are available.

I know people survive on a lot less than £23k and socialising etc isnt an issue for us - we would be happy with enough to cover the bills and a little extra leftover hehe!

Anyway advice gratefully received -thank you you all so much in advance!

Kirsty x

princess10 · 22 February 2006 at 1:48PM

You can apply for tax credits and it will work out how much you should get without sendiing it off.I am not sure of the web add but you could go through dwp.gov.

It is around £200 per month until childs first b/day, you may also be able to claim working tax credit. If you claim tax credit,you can work up to 15 hrs withpout being deducted. I can not advise you on childcare as I do not claim it.

Hope this helps.Tc.

cheepskate_2 · 22 February 2006 at 2:08PM

hi

for one child on ctc you would get the standard £10p/w + and extra £10 p/w for the baby being under 1 (on an income of 23000). You could not claim wtc as your household income has to be about or under £14400 per year.
Based on the 20p/w ctc senario you could go out to work and your ctc would not be affected (up till 63000 while baby under 1 58000 over 1 year)

again this is not taking into account childcare

not too sure if you would get jsa (contributions ) but nothing else is available cos it is the household income that is taken into account and wifes get nowt cos hubby looks after you

CIS · 22 February 2006 at 2:13PM

Reply posted to your other post on benefits board
http://forums.moneysavingexpert.com/showthread.html?p=1622938#post1622938

Penny-Pincher!! · 22 February 2006 at 2:18PM

Hi

You COULD claim working tax credits!!

Just went to entitledtoo and put your rough details in. If you were NOT to go back to work, based on your OH's income, you would roughly receive £2700 in child tax credits and £3800 working tax credits. So about £125 per week.

If you go to:

http://www.entitledto.co.uk/

You can juggle around what your thinking of doing and they will give you a rough estimate of whta you may be entitled too.

Good luck

PP
xx

SomersetPrincess · 22 February 2006 at 2:26PM

Thanks for this PP. I dont understand why it asks for 04/05 earnings though. Both OH and I were working then so why does it take it into account. No matter what I do I cant seem to get it to come to £2700 - am I doing soemthing wrong???

SomersetPrincess · 22 February 2006 at 2:31PM

Oh I need to say I get childcare as well. Well the point of my not returning to work is that baby doesnt have to go into childcare. Cant seem to win hehe! Not looking good for me being a stay at home mum - how do people do it!!!!

Penny-Pincher!! · 22 February 2006 at 2:38PM

Hiya

Put in the date for the baby as todays date as they wont give you a figure otherwise, they wont let you do a babys birth in advance IYKWIM.

What will your rough wage be if you went PT and cost of childcare, also how many hrs would you be doing? Also, you pay rent, whats the rough weekly amount and council tax bill annually? I'll try and get a figure for you roughly.

PP
xx

Lillibet_2 · 22 February 2006 at 2:41PM

Penny-Pincher!! wrote:

Hi

You COULD claim working tax credits!!

Just went to entitledtoo and put your rough details in. If you were NOT to go back to work, based on your OH's income, you would roughly receive £2700 in child tax credits and £3800 working tax credits. So about £125 per week.

If you go to:

http://www.entitledto.co.uk/

You can juggle around what your thinking of doing and they will give you a rough estimate of whta you may be entitled too.

Good luck

PP
xx

Hi PP
SP's circumstances & incomes are almost identical to mine & I am not curently getting WTC? Please can you explain how you worked this out?

Thanks

Penny-Pincher!! · 22 February 2006 at 2:41PM

Your entitlements

Final tax credit award 2005/06

Child Tax Credit (annual): £2,716.60
Working Tax Credit (annual): £3,876.30

Total Tax Credit (annual): £6,592.90

The above was based on joint income of £44000 for 04/05 and for this year based solely on 23k from just your OH's wages. I put the date of babys birth as todays. Also over 30hrs pw-ive worked 23k to about £340 a week after tax and NI...is that about right?

PP
xx

SomersetPrincess · 22 February 2006 at 2:43PM

PP you are a star! If I worked 3 days a week I would roughly get £180 a week. Childcare would be about £90 a week for 3 days a week. Council tax is about £100 a month and rent is £550 a month :-(

I am guessing I would get hardly anything though if I g1ave up wirk altogwthere and didnt use childcare :-(

Advice on tax credits etc - first baby due in August!

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