Want to increase work hours but can't afford......

Kimbersjane

to lose out on the child tax credits element I get help with.

Me and my partner have a joint claim and get a tiny amount of working tax credits and thee child element pays for two full days at nursery for our 2 yr old. He works full time but is on minimum wage and I work 18 hrs but wouldn't
mind increasing my hours so we can save up some extra money.

Will this effect the money I get? I really can't afford to have her in childcare if we lose out on the help with nursery.

Thankyou in advance for any help

Darksparkle

Well the more you earn the less help you get.

If you could give some figures then we can do some calculations.

Kimbersjane

Well my partner gets £14700 pa and I get around £7000

We get £138 per week in tax credits and approx £130 of this says it's the child tax credits element. Her nursery is £52 per day and she goes two days a week

pmlindyloo

Kimbersjane wrote: »

Well my partner gets £14700 pa and I get around £7000

We get £138 per week in tax credits and approx £130 of this says it's the child tax credits element. Her nursery is £52 per day and she goes two days a week

You can use this benefits calculator to give you a rough guide.

https://www.moneysavingexpert.com/family/benefits-check

Make sure you have your P60s ready.

Remember that tax credits are based on the previous tax year.

Darksparkle

How much would you earn if you increased your hours? Would your childcare also increase?

Tax credits is based on the previous year's income unless the current year income increases/decreases by more than £2500.

As we are about to change tax years, I'd suggest you consider your income for this year 2017/18 and what you'd expect next year 2018/19.