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Immoral Angel's Debt Diary - Part 16,342...

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  • JET34
    JET34 Posts: 1,144 Forumite
    Sorry your feeling down I am sure things will get better . see you have your first party's booked already!
    Nobody needs to know what you order with ann summers if I remember correctley there is a envelope type thing also all orders come in black bag things so the hostess doesn't know what you have brought... mind you we all got so !!!!ed we told each other what we brought so it didn't really matter!
    DEBT FREE 23/FEB/07 TWO YEAR's!! £2 £1020.00 Banked New total £268+ and counting SAVINGS 3000.00- ISA £30. :j
  • immoral_angeluk
    immoral_angeluk Posts: 24,506 Forumite
    10,000 Posts Combo Breaker
    Just called the nursery. Apparently the funding is now from the 14th April rather than the 21st which is good news. I've also sorted with the nursery that during the half terms/holidays etc the girls will do just the afternoons for me to do the CAB. Here's how it'd work out.. I think. lol

    Mon all afternoon - £9.68 'top up' (using 1 funded sessions) for eldest £18.50 for youngest
    tues - Eldest funded session
    Weds - eldest funded session
    Thurs all afternoon - £9.68 'top up' (using 1 funded session) for eldest £18.50 for youngest
    Fri - eldest funded session

    Weekly cost - £55.36

    and this during holidays/half terms (ie when not funded)

    Mon all afternoon - £18 for eldest £18.50 for youngest
    tues - n/a
    Weds - n/a
    Thurs all afternoon - £18.00 for eldest £18.50 for youngest
    Fri - n/a

    Weekly cost - £73

    Still trying to work out what my weekly average cost would be for tax credits though... :undecided
    Total 'Failed Business' Debt £29,043
    Que sera, sera. <3
  • Snaggles
    Snaggles Posts: 19,503 Forumite
    From memory (but do check :o) there are about 13 weeks holiday a year, so wouldn't it be something like this:

    13 x £73 = £949

    39 x £55.36 = £2159.04

    Total for 52 weeks = £3108.04

    Divided by 52 = £59.77 per week average (tax credits round up to nearest £ so £60 per week).
    "I wasn't wrong, I just wasn't right enough."
    :smileyhea
    9780007258925
  • Hi I was just wondering if your OHs work did child care vouchers then you would also save on his tax?

    Sorry if this has already been mentioned I don't get time to read all your posts.
  • immoral_angeluk
    immoral_angeluk Posts: 24,506 Forumite
    10,000 Posts Combo Breaker
    Hi I was just wondering if your OHs work did child care vouchers then you would also save on his tax?

    Sorry if this has already been mentioned I don't get time to read all your posts.
    They do but because we're on a low income it's better for us to claim the childcare element of tax credits. :)
    Total 'Failed Business' Debt £29,043
    Que sera, sera. <3
  • Can you not do both?
  • Snaggles
    Snaggles Posts: 19,503 Forumite
    I've read somewhere that childcare vouchers can have an impact on tax credits - you can do both but you have to be careful you don't end up worse off I think.
    "I wasn't wrong, I just wasn't right enough."
    :smileyhea
    9780007258925
  • immoral_angeluk
    immoral_angeluk Posts: 24,506 Forumite
    10,000 Posts Combo Breaker
    To be honest tax credits are complicated enough without confusing them even more! lol
    Total 'Failed Business' Debt £29,043
    Que sera, sera. <3
  • Snaggles
    Snaggles Posts: 19,503 Forumite
    Here's the official word from the HMRC website:

    Will I be better off accepting childcare vouchers in return for a salary sacrifice or by claiming tax credits help towards my childcare costs?
    This will depend upon your individual circumstances. Generally speaking, your family will be better off accepting childcare vouchers in return for a salary sacrifice if you can answer “yes” to one of the following:
    • Your eligible childcare costs are more than £175 per week if you have one child or £300 per week if you have two or more children. In this case you will always be better off accepting childcare vouchers to cover your childcare costs above these limits.
    • You are receiving tax credits at the family element (£545 per year, or £1090 per year if you have a baby aged under one) or less and you are claiming for your childcare costs.
    Your family will generally be worse off or, at best, no better off accepting childcare vouchers in return for a salary sacrifice if you can answer “yes” to both of the following:
    • You are receiving tax credits of more than £545 per year (or £1090 per year if you have a baby aged under one) and you are claiming for your childcare costs.
    • Your eligible childcare costs are no more than £175 per week if you have one child or £300 per week if you have two or more children.
    These are only general pointers and there can be exceptions to these rules. You should always base any decision you make on your particular circumstances.
    "I wasn't wrong, I just wasn't right enough."
    :smileyhea
    9780007258925
  • (Land_of)_Maz
    (Land_of)_Maz Posts: 11,738 Forumite
    Part of the Furniture
    Snaggles wrote: »
    Here's the official word from the HMRC website:

    Will I be better off accepting childcare vouchers in return for a salary sacrifice or by claiming tax credits help towards my childcare costs?
    This will depend upon your individual circumstances. Generally speaking, your family will be better off accepting childcare vouchers in return for a salary sacrifice if you can answer “yes” to one of the following:
    • Your eligible childcare costs are more than £175 per week if you have one child or £300 per week if you have two or more children. In this case you will always be better off accepting childcare vouchers to cover your childcare costs above these limits.
    • You are receiving tax credits at the family element (£545 per year, or £1090 per year if you have a baby aged under one) or less and you are claiming for your childcare costs.
    Your family will generally be worse off or, at best, no better off accepting childcare vouchers in return for a salary sacrifice if you can answer “yes” to both of the following:
    • You are receiving tax credits of more than £545 per year (or £1090 per year if you have a baby aged under one) and you are claiming for your childcare costs.
    • Your eligible childcare costs are no more than £175 per week if you have one child or £300 per week if you have two or more children.
    These are only general pointers and there can be exceptions to these rules. You should always base any decision you make on your particular circumstances.


    And in plain english? :confused::confused:
    I'm just a seething mass of contradictions....
    (it's part of my charm!)
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