tax credit help please

Anthillmob

i used entitled to yesterday just using my partners final wages from his P60 [£24,000] and it gave no entitlement to CTC or WTC but said we should qualify.

what i want to find out is if we would qualify and qualify for what if i packed up work to look after our kids as as the cost of living goes up we are finding it more difficult, even with the child cre element of WTC to pay the monthly fees for nursery after paying out everyting else [of which we budget].

ive never been a fan of 'entitledto' as i never think it gives a good indication of entitlement.

anyone offer any help or know of a tax credits calculator?

our only other income would be child benefit for 2 kids and DLA middle rate care and lower mobility.

Robbie64

who gets the DLA middle rate care and is there a claim for Carers Allowance in place?

DX2

Anthillmob wrote: »

anyone offer any help or know of a tax credits calculator?

http://www.workingfamilies.org.uk/asp/calculator/Question.aspx

toonbaz

why not try the calculator on the HMRC website?

Anthillmob

Robbie64 wrote: »

who gets the DLA middle rate care and is there a claim for Carers Allowance in place?

i receive the dla. he cant claim carers as he works 40hrs a week.

i cureenly work part time but now the eldest is about to starts school and holidays will be a !!!!!! even for the 2 days a week i dont work am seriously considering giving up work. wont claim jobseekers as i will be looking after my 2 year old full time whe the eldest is at school.

but need to know if we would be better off, even with HB and CTB purposes. entitled to said based on the info ive given we would qualify for full but obviously this hasnt included any tax credits.

Robbie64

I was checking re: DLA in case it was in payment for one of the children. As it's for yourself, as you said hubbie won't be able to claim CA due to his earnings.

themonkeybutler

If you give up work you lose your income and all the childcare element of TC. If youre struggling to make ends meet now, you'll be losing a lot more money should you quit work.

TotallyBroke

If you give up work you will only be entitled to the Child Tax Credits for the children.
Based on the fact you were both working before and the amount of earnings you would never have got Working Tax Credit anyway but you may have got a little for childcare costs. Obviously if you give up work you will lose the childcare element.
I suggest you have a look at your award from last year and see how much you were getting for childcare. Then do a little spreadsheet (SOA) showing your payments as they stand with both of you working. So all money in versus all money out. Then do it with just husbands wage and no childcare element. If you have money left over at the end of the month then it could be worth you giving up work if you don't then it would not be worth it as your CTC will not increase by a lot due to your drop in earnings.