Quick bit of advice please

mummysaving_2

Hi - I am a newbie here (well to posting anyway.I have spent many months of reading ) so please be gentle with me.

My husband and I earn approx £36k pa. We have one child (18 months) and another on the way. I am concerned about how I am going to afford 2 children and went to entitledto.com and also to the tax credit calculators on the inland revenue site. I put in details as if my 2nd baby had just been born to see what my award would be. I will be paying £188 per week childcare.

Both calculators have come back with the same - that we will receive around £100 a week tax credits. Could this be right? It seems high to me - bear in mind with the one child at the moment I only get £10 a week (but my childcare is only £100 per week)

Any advice would be greatly appreciated

Callisto

It will be a higher amount as you'll receive the 'baby element' of tax credits for the new child's first year, as well as two 'child elements', plus a proportion of child care costs. You can call the TC helpline and ask for an estimate over the telephone to see if that tallies with the estimate you've received online.

mummysaving_2

Thanks for your reply.
I will give the TC folk a ring and see if they can give me an estimate :j