Help with Tax Credits amounts

Ikpo1979

Hi all, hopefully Someone can help me as trying to find any info is virtually impossible. I’ll try to keep it brief.

I work full time. My partner works part time (3 days a week) we are relatively low earners bringing in around £23, 000 per year.

Our daughter goes to nursery for 2 of the 3 days that my partner works and we are currently receiving 15 funded hours from the government towards her nursery fees. At the end of each month we are left with £69 to pay towards her nursery fees.

Because we are paying for childcare We currently are in receipt of tax credits, and get £386 a month. Obviously this is a lot more that we are paying out. (£69)

As my daughter is due to go to school in September, I am trying to budget my money for when we are no longer paying for her childcare.

Can anyone tell me, if when the tax credit renewal is due, as we will be no longer paying for childcare will I be £386 a month worse off, or will I still get a proportion of this?

It’s all very confusing as initially I just assumed if I was paying £69 a month for childcare, the government would cover this amount? Why do we get so much more in than we pay out? Is it because we are low earners too?

Thanks for taking the time to read this.

poppy12345

Putting all your details into a benefits calculator will tell you how much you could claim. https://benefits-calculator.turn2us.org.uk/AboutYou

calcotti

As poppy suggests try a benefits calculator.

Ikpo1979

Thank you! Just tried that and it’s telling me I’m entitled to Child Tax credits.

Am I being stupid, I thought Child tax credits was only for those who are paying for childcare? In July of this year, I’ll no longer be paying for childcare as both children will be going to school so I entered my details onto the calculator with my circumstances from July onwards. It’s still saying I’ll be entitled to £71.03 per week?

Darksparkle

Child tax credits are for those who have children. How much you then get depends on number of children, income, disabilities etc.

Childcare is an element of working tax credits.