Household Income and Childcare.

fabforty

You would probably be better off if your wife waits a year before working. Once your child is at school or even when the free 15 hours of childcare kicks in aged 3, your childcare costs will reduce significantly and the second income will actually count for something.

hardworking_mummy

specialboy wrote: »

On £77k between you I'm sure you will manage.

Less income tax, national insurance contributions, pension contributions, the cost of getting to work..... It's easy to forget when you don't contribute any of the above.

somethingcorporate

hardworking_mummy wrote: »

Less income tax, national insurance contributions, pension contributions, the cost of getting to work..... It's easy to forget when you don't contribute any of the above.

It's easy to forget that it's 3 peoples average earnings in a family of 2 earners. The majority have to manage with less so they'll have to make their plans accordingly.

FBaby

somethingcorporate wrote: »

It's easy to forget that it's 3 peoples average earnings in a family of 2 earners. The majority have to manage with less so they'll have to make their plans accordingly.

And those 3 average people would be entitled to CB, tax credits that would cost 70% of childcare and for some HB so in the end their disposable income might be shockingly not that far apart!

Axled

Childcare vouchers are good but even they are limited for higher earners to about £124ish from £243 I think.

Unfortunately there is little help for young families who work and have even moderately good salaries, we decided to relocate close to my partners parents to decrease the cost of care as we are due our second soon.

specialboy

hardworking_mummy wrote: »

Less income tax, national insurance contributions, pension contributions, the cost of getting to work..... It's easy to forget when you don't contribute any of the above.

Where do you get the idea that I don't contribute?

skegyuk

specialboy wrote: »

On £77k between you I'm sure you will manage.

I never said we would not manage but would leave very little disposable income.

notanewuser

skegyuk wrote: »

I never said we would not manage but would leave very little disposable income.

Isn't that the choice you make though? Not something to be paid for by the state.

skegyuk

notanewuser wrote: »

Isn't that the choice you make though? Not something to be paid for by the state.

Correct, but if I was entitled to something than I don't think it is morally wrong for me to use it. I was not having a moan about what I am entitled to, just asking what if anything I am.

danielanthony

skegyuk wrote: »

Correct, but if I was entitled to something than I don't think it is morally wrong for me to use it. I was not having a moan about what I am entitled to, just asking what if anything I am.

As a higher rate tax payer you are classed as rich by the government so not entitled to any rebates or grants that those who don't work, or decide to work few hours, enjoy.

So back to your mansion and maybe beat one of your servants to make you feel better!

In all seriousness, you won't get anything as 51% of households now receive more in benefits and government services than they pay in tax. It's the 49% which you are part of which will continue to be squeezed, as paying more in NI and pension tax relief cuts are less newsworthy than Bedroom Taxes.