help with tax credits please

gawebb99

hi i wondered if someone may be able to help me with tax credits as i really dont understand it!

joint award both working 35 hours a week
joint annual income £26,000
no childcare
2 children (2 and 4)
no disabilites

also, if i were to take on a higher paid job from april onwards, we would have a joint income from april 11-12 of 33,000 and would have childcare cost of approx £120 / week. my oh would work 35 hours a week and me 24 hours a week.

i'd be really grateful of any help, thanks

zagfles

gawebb99 wrote: »

hi i wondered if someone may be able to help me with tax credits as i really dont understand it!

joint award both working 35 hours a week
joint annual income £26,000
no childcare
2 children (2 and 4)
no disabilites

also, if i were to take on a higher paid job from april onwards, we would have a joint income from april 11-12 of 33,000 and would have childcare cost of approx £120 / week. my oh would work 35 hours a week and me 24 hours a week.

i'd be really grateful of any help, thanks

On 26k you'd get £44pw from April.

If you take the higher paid job & childcare you'd get 84pw extra towards the childcare (70% of cost) ie 128pw total. The extra income won't reduce your tax credits next tax year because of the 10k disregard, but will after April 2012 when it'll go down by about £55pw

gawebb99

thank you very much for replying! very helpful, thank you