Can I afford to go part time?

aymal

Hi all

I have just been back at work full time for 2 weeks after being on maternity leave and I'm seriously considering asking to reduce my hours to 4 days a week as I'm finding it so hard to leave the little one.!

I was wondering if you lovely people could help me out in working out what tax credits I would be entitled too if I decide to go ahead with this and if I could still afford everything.!

If I go down to 4 days a week I would earn £25,500. I'm a single mum. I have no childcare costs as my little one is with her nan. Currently I am getting about £100 a month from tax credits due to the £10,000 disregard in my income going up since April since I've come back from maternity leave.!

Any help will be greatly appreciated.!

HappyMJ

aymal wrote: »

Hi all

I have just been back at work full time for 2 weeks after being on maternity leave and I'm seriously considering asking to reduce my hours to 4 days a week as I'm finding it so hard to leave the little one.!

I was wondering if you lovely people could help me out in working out what tax credits I would be entitled too if I decide to go ahead with this and if I could still afford everything.!

If I go down to 4 days a week I would earn £25,500. I'm a single mum. I have no childcare costs as my little one is with her nan. Currently I am getting about £100 a month from tax credits due to the £10,000 disregard in my income going up since April since I've come back from maternity leave.!

Any help will be greatly appreciated.!

You need to do an SOA to see if you will manage. I could manage on £25,500 but could you. You need to cut some things but they may just be a few things that are really just unneeded luxuries which you can do without anyway.

aymal

I live in central London where rent is a joke. I give my mum some money for looking after my little one.

Trust me I have made cut backs where I can. I was always supposed to come back part time but things didn't work out in my life how I had planned.

I just wondered if I would be entitled to anything from tax credits. If not I would have to stay working full time.