Am i entitled or penalised???

lauzellen

Its higher rate and additional rate tax payers that the changes from April will affect.. It is something to look into as can save money as it is taken pre-tax i.e. £700 of pay would be worth £1000 in vouchers and it reduces your income for declaring to tax credits and can as such increase the CTC award.

I only suggested your partner/husband looked after your children as it made financial sense to me, but ultimately it is obviously your decision. As for "pocket money" as a famly surely what is yours is his and vice versa.. It would ultimately make more sense to find an employed full time job - he could still do work in a driving capacity surely and so bring more to the family table.

shellsuit

Based on the information you have entered, your household may be entitled to the following tax credits award:

Child Tax Credit £688.06

Childcare element of Working Tax Credit £0.00

Sub total£688.06

Working Tax Credit (less the childcare element of Working Tax Credit) £0.00

Note: The childcare element of Working Tax Credit will always be paid direct to the person who is mainly responsible for caring for the child or children, alongside payments of Child Tax Credit.

Total£688.06

This is based on your household income of £36651.00.This is the amount your household may be entitled to from 16/02/2011 until 05/04/2011. This result is only an estimate and is based on the information provided assuming you make the claim on 16/02/2011. This means the amount shown may not be your entitlement for the full year.

The amount may change when your claim is processed and in certain circumstances may be paid from an earlier date (up to a maximum of 3 months) where you (or your partner if it is a joint claim) satisfied the requirements for entitlement.

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That's assuming the £3500 is profit from self employment and both children are in childcare at a cost of £172 a week.

If you have different figures, you can check yourself here : http://taxcredits.hmrc.gov.uk/Qualify/DIQHousehold.aspx

sillysue

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shellsuit

sillysue wrote: »

My oh & I do support each other financially & I agree with what is your is his & vice versa but when there are other issues like children from previous marriages & previous marriage bills the situation is changed.
Let me get this clear...So your saying that I should work full time, (loose out on time with my kids)my partner should stay at home with are children (& have no income what so ever)& I pay for his children from another marriage & his personal bills from his ex wifes water bill & the solicitors bill from the divorce???

If that's what it takes then Yes.

The only reason people are suggesting he stay at home, is so you have no childcare costs, as according to your figures at the moment, they cost £172 a week and your OH is only bringing home £67 a week.

He could also find a different full time job which would help with childcare costs.

sillysue

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shellsuit

sillysue wrote: »

Shellsuit many thanks for the figures.
I calculated it myself & it approx said I would be entitled to what you stated so that will help towards childcare costs whilst my oh continues to work.
My other half is looking for another full time job so fingers crossed.

Cross posted with you there.

You're welcome and I hope he finds else soon.

shellsuit

sillysue wrote: »

You expect me to pay for someone elses children, there divorce & someones elses water bill... Anyone else want me to pay anything for them???

They're not just 'someone else's' children though are they?

I hope my husband doesn't look at my 2 eldest as 'someone elses'.

If you're meant to be a partnership, then it shouldn't matter who is earning what, there should be one pot and any outgoings should come from it.

Surely you knew the score (children, divorce and costs) when you met your OH and had children together with him?

lauzellen

He would have been jointly liable for the water bill so if it wasn't paid then it does need paying now.. You don't want to think of it as you are paying it but the "family" same as is happening now. I am not suggesting you pay for his other children no but they can not be getting much from your partner as he doesn't earn much. Is it an arrangement through the CSA or a personal agreement?

Use the calculators to work out how much better off you would be if you took out the childcare vouchers including the effect this would have on your child tax credit award as a family (including everything) and compare it with your partner taking employed work and the situation where your partner gave up work to look after the children and make your decision with your partner based on what you can afford - if your preferance is for your partner to continue as he is and with the vouchers this makes it viable then the best of luck to you.

sillysue

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shellsuit

sillysue wrote: »

Yes I do see it that way...they are someone elses children as they arent mine.
His ex wife doesnt pay for my children so why should I fund hers?
My children are my priority not other peoples.
We are a partnership but when I met oh thay had been separted for 2 years so no costly divorce or costs & lets be honest when you meet someone you dont request a financial CV on a 2nd date do you?

You're not funding just 'her' children, they're your OH's children too!

Not on the 2nd date No, that's just being pedantic,but surely you'd want to know the financial side of things before you set out to have children with him?