delete

OwenGriff

deleted.....................

Poraw

On a conbined salary of £45k you wont be entitled to any help with childcare costs - even when your salary drops I believe you will be above the threshold to qualify for help from the government for childcare. You would have to salary sacrifice for childcare vouchers if one (or both) of the companies you work for offer this scheme.

mysk_girl

I think that even if you drop to your lower salary, you will still not be entitled to much in the way of tax credits. Looks like vouchers will be the best way forward, sacrifice £50 a week each would work nicely. That sounds like relatively cheap childcare costs, to be honest, full time for my DD would cost me £185pw.

This seems quite enlightening.

http://www.hmrc.gov.uk/taxcredits/people-advise-others/entitlement-tables/work-and-child/work-pay-childcare.htm

zagfles

Yes, assuming you have just the one child and no disabilities etc then you won't get any tax credits next year even with the childcare costs, so go for the vouchers.

ManicMum

You have got to be joking. We earn around £26k and have 3 children and are entitled to nothing!

LL30

Don't forget that for TC purposes, the first £100 of SMP doesn't count as income, that could make a difference to this years income - if you don't go over the 10K disregard, you could be ok for the following year. Just a thought!

zagfles

ManicMum wrote: »

You have got to be joking. We earn around £26k and have 3 children and are entitled to nothing!

Why not? Everyone with kids on under £41k is entitled to CTC. 3 kids on £26k would get you quite a lot.

nannytone_2

zagfles wrote: »

Why not? Everyone with kids on under £41k is entitled to CTC. 3 kids on £26k would get you quite a lot.

i think she's talking about help with childcare costs, not ctc.

zagfles

nannytone wrote: »

i think she's talking about help with childcare costs, not ctc.

Ah yes. But what she might not realise is that by claiming the childcare element of WTC, she might not get it but instead get extra CTC. Effectively she is getting it, it's just that rather than the taper being used against the CTC, as it would if she didn't claim childcare, it's used against the childcare element instead resulting in more CTC!