Would I be entitled to tax credits if I left work voluntarily?

vicky098

I currently work part time, and my daughter is in nursery...My husband works full time. at the moment we are struggling to make ends meet and our nursery fees have just gone up. I really dont no what the best thing to do is. If I left work, would I still be entitled to the child tax credit that we currently receive? I would still like my daughter to be in nursery at least a couple of days a week as I feel it is brilliant for her development.
We currently dont receive working tax credits, is this something that we would then get? I find the whole system very confusing and dont no what to do for the best.
If I chose to leave my job would we receive anything at all? I want to work, and enjoy my job, however I feel like I am working for nothing as we are struggling so much. Can anybody offer any advice??

Caz3121

there are some entitlement tables here http://www.hmrc.gov.uk/taxcredits/people-advise-others/entitlement-tables/work-and-child/index.htm

Child Tax Credits - yes you would still get them however you would not get any contribution to nursery (if you receive any currently)
Working Tax Credits - depends on your OHs income

As you will have been assessed on last years income you have 2 options
1) Tell them you are no longer working so the childcare will stop (if applicable)
2) Tell them you are no longer working and ask to be assessed on new estimated earnings for the year (which will be more than your husbands income alone as we are already part way through the year)

If you go for option 2 then you are advised to overestimate if anything as there is no £25k disregard (as there is when they assess on previous years income) so anything earnt over the estimate will result in an overpayment

karenx

You will still get child tax credits and possibly working tax credits if your partner is working 30hours plus per week and earns no more than 18k per year. You will not get any help with childcare costs as only 1 of you is working, so if you want your child to continue in nursery you will have to pay it yourself

Indie_Kid

karenx wrote: »

You will still get child tax credits and possibly working tax credits if your partner is working 30hours plus per week and earns no more than 18k per year. You will not get any help with childcare costs as only 1 of you is working, so if you want your child to continue in nursery you will have to pay it yourself

I thought it was only 16 hours for a parent?

karenx

ooops sorry