Will i get help with my childcare costs?

JJT

I wonder if anyone can give me some advice. I live with my partner and i have an 8 year old son. We both work - i work 30 hours per week and my partner works 39 hours per week. We currently pay for morning and afterschool club for our son. We would love another child but are concerned about the childcare costs. We both need to work to cover the high outgoings that we currently have (loans, credit cards etc) so i would have no option but to work. I have phoned the tax credit helpline and asked what help they would be able to give me based on me having another child and giving them an idea of how much my childcare would be ( i realise they are not interested in my other outgoings) but they just say i need to call back when i am pregnant and they can go through my claim with me. I want this information beforehand though to ensure we are going to be able to manage. I have never understood the tax credits much. For information our joint income is around 36,000 per year we currently pay approx 36 pound per week for our 8 year old and for a new child it would be about 120.

I have used the web-site but seem to get different amounts each time i use it and my friend has told me it is all due to change in April this year anyway.

Caz3121

A useful table here http://www.hmrc.gov.uk/taxcredits/people-advise-others/entitlement-tables/work-and-child/work-pay-childcare.htm however you are probably going to be somewhere between salaries and childcare costs so it will only be an estimate.

Key thing is that tax credits work on the previous years income and if you do have a child then much of that income may have been on maternity leave so lower income which is beneficial to you

JJT

Thank you i will have a look at that link.