Worried/confused by tax credits?!

diamondminded

At current me and my wife have one son aged 1 and reant a house privately. She works 12 hrs per week and i work 43 on £18500 per year. I have trained to change long term profession however changing means starting at a lower rate of pay. We cannot really afford at the moment to take home less than we currently do, if i had to earn less would working tax credits/child tax credits etc go up to cover the shortfall? Has anyone got any advice or experience of something similar as I really want to start my new career but am worried by the potential financial implications.

Thanks v.much

dmg24

How much does your wife earn? How much will you be earning?

diamondminded

she earns £280 per month and i would be earning £14500

welshmoneylover

diamondminded wrote: »

At current me and my wife have one son aged 1 and reant a house privately. She works 12 hrs per week and i work 43 on £18500 per year. I have trained to change long term profession however changing means starting at a lower rate of pay. We cannot really afford at the moment to take home less than we currently do, if i had to earn less would working tax credits/child tax credits etc go up to cover the shortfall? Has anyone got any advice or experience of something similar as I really want to start my new career but am worried by the potential financial implications.

Thanks v.much

Do you think it is morally right the taxpayer should fund your lifestyle choices?

SuziQ

If the OP eventually ends up on a higher wage than his original job, paying more tax, then why shouldn't he use the qualifications and even accept CTC if that's what it take? Longterm, he may end up paying more into the system, and accusing him of being immoral doesn't really tie with the point of this forum. There are also some vital jobs which are poorly paid-some nurses for instance get very low pay (starting pay for some nurses is £13,630)and top up with CTC. Is that immoral?