Confused? And very worried CTC

Sazzybo39

Hi,

Any help would be appreciated. I have tried to figure out out CTC for 2016-17 under the new rules but look like we will go from £12000 per year to none :-( which will devastate us and mean I can no longer work.

Hubby earns £33,000
I earn £11,000
We have 4 children. One of which is disabled.
We pay £180 per week childcare.

The way I work it out we will end up with £0 per month from £1000 per month. My only option would be to quit work when really I was looking to go full time!

Anyone shed any light on this for me?
Thanks

[Deleted User]

So go full time as planned, that would replace the loss

Sazzybo39

It wouldn't though Full time I'd only earn another £300 a month and my childcare will go up massively. Atm I use the CTC to pay childcare. Sorry I don't understand? We will get £44 per annum?

Sazzybo39

Ah sorry I see you where referring to our income! Not a lot for 6 people and £1000 in childcare every month unfortunately... wish it was as good as it sounds

Sazzybo39

If I could just get to Sept 2017 and all the kids would be in school I wouldn't ever claim tax credits again. Its just the damn childcare! Thanks for replies though guys :-)

SkyeKnight

I reckon you will lose just under £4k - not all of your Tax Credits but quite a lot.

shegirl

You'll just have to tighten your belts for a short while then if things will change in September 2017. Much easier to switch to full time hours now than it will be to find a new job in over a years time

Sazzybo39

Really? How have you figured it out? I've been trying all day! Lol

A_Flock_Of_Sheep

I will be tightening my belt. Tomorrow I am cancelling my standing orders for my three charity donations for a start. Charity firmly begins at home from now on. If the charities ask why I will say due to pending government cuts I had to withdraw my support. If you wish to complain write to the Chancellor.

I wondered if you got WTC/CTC shegirl as you have a disabled nipper? Not sure if you work though?

Sazzybo39

Shegirl you are right. The last thing in the world I want to do is not work. I'm a very lucky person in that I love my job. If I can avoid quitting it I will.

A_Flock_Of_Sheep

I am weighing up whether I would be better off quitting my job and just going on ESA like a lot of disabled people. I wouldn't have to get up any more and can doss about in my PJs all day.

My boss wasn't exactly happy today when I said that due to government cuts to my disabled tax credits I may have to resign as I am unable to work more hours than I do now because of my health. Especially as my workplace just recently spent £8,500 on training for me. Ahh well any complaints they can raise them with Georgie.