Childcare Tax Credits / Childcare Vouchers - Totally Confused

catz747

Hello

Hope someone can help me. Basically I’ve been looking into our finances for when I go back to work next year after having our twins.

I’m pretty sure we’re better off both working and paying for a nursery. However, I’ve been at the tax credits calculator to look at entitlement to childcare element of tax credits and got totally confused. I can’t even get an online calculator to accurately tell me how much we get now.

**Have edited post not to remove income figures as an MSEr has looked into this for me**

None of this takes into account that I will get a salary increase in April of at least a couple of percent and my partner may or may not as they have just had a wage increase following negotiations. (Just thought …. Do I need to ring tax credits about that now??) :undecided

And another question is does the tax credits threshold increase in April same as most things do, cause I’m not sure if I would be better off asking not to have a pay increase??

Also do any of these figures make sense to anyone?

Thanks in advance for reading this

giddingsno1

I have been trying for the last couple of days to get through to somebody and everytime I either get 'call back later' or I sit and wait for ages until I can't wait any more. Its crazy! What am I supposed to do - devote 24-7 to them??!!

mommypig

hi ,we as a family were enitiled to help with childcare from tax credits until my oh lost his job and they said he could look after the children! i havsince started using busy bee vouchers as u felt it was importany for my youngest to still go to nursery,therefor i get vouchers of £153 o month deducted from wages and they tax my earning after taking thuis amount off,so i am better of by 540 per yar ,i also think you might earn to much as a couple to get much if any help thriough taxcredits so would be better f through vouchers hope this helps,abi

catz747

Hi, thanks for that, we don't earn too much as we are currently in receipt of tax credits, this site says to check if you earn up to £40,000 per year but it is worth checking if you earn more. It is worth checking as we get £42,000 and we are entitled.

atlantis187

catz747 wrote: »

Hi, thanks for that, we don't earn too much as we are currently in receipt of tax credits, this site says to check if you earn up to £40,000 per year but it is worth checking if you earn more. It is worth checking as we get £42,000 and we are entitled.

Are u saying ur combined household income is £42000 and u still get help with childcare thru tax credits? How is this possible?

Me and my wife have a combined income of £38000 and we've been told were not entitled as we earn too much.

mruddy

I am in the same bota, me and my wifes total in come is £47000 and appartnetly we are not entilted to anyting, thou both our companies are in teh childcare vouchers scheme

catz747

atlantis187 wrote: »

Are u saying ur combined household income is £42000 and u still get help with childcare thru tax credits? How is this possible?

Me and my wife have a combined income of £38000 and we've been told were not entitled as we earn too much.

I'm saying our combined household income is £42,000 and we get child tax credits (not very much though). We don't get help with childcare because we haven't put the children in nursery yet.

It says it is made up of Basic Element and Baby Element. (half is each) (Our children are both under 1 but only 1 is taken into account)

plzhelpmesave!

i think you get higher rate when your baby's under 1 - which may be why some people get CTC and others dont.

I'm pretty confused myself tbh! I am just setting up my own part time business, called them and they estimated i could get £115 towards nursery fees of £125 a week. This is based on a last years joint income of £36,500...... BUT i need to call them back to get definate amount!

catz747

plzhelpmesave! wrote: »

i think you get higher rate when your baby's under 1 - which may be why some people get CTC and others dont.

I'm pretty confused myself tbh! I am just setting up my own part time business, called them and they estimated i could get £115 towards nursery fees of £125 a week. This is based on a last years joint income of £36,500...... BUT i need to call them back to get definate amount!

I guess there will be a difference between the childcare eligibility before they are one and when they turn one then as well just to complicate matters

emeraldbugle

Just sent you a pm

catz747

emeraldbugle wrote: »

Just sent you a pm

Thanks for checking for me