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  • FIRST POST
    • dalo
    • By dalo 5th Mar 18, 12:00 PM
    • 177Posts
    • 35Thanks
    dalo
    What point do tax credits stop?
    • #1
    • 5th Mar 18, 12:00 PM
    What point do tax credits stop? 5th Mar 18 at 12:00 PM
    Hi, my last P60 figure for tax credits was 22830 and I pay 15 p/w childcare and receive 144 every 4 weeks.. This is going down to 105 every 4 weeks from April.

    I want to increase my hours (I do 30) and I'm trying to work out how much better off i'll be.

    So if i were to do 33 hours a week my salary would be 26k ish plus a 500-1k bonus maybe?

    Can anyone tell me at what point i'd stop receiving any kind of tax credits? I'm fully aware 'you'll always be better off working' etc, but I'm just trying to work it out so i'd know. My childcare wouldn't increase.

    Thanks.
Page 1
    • Suarez
    • By Suarez 5th Mar 18, 1:12 PM
    • 946 Posts
    • 613 Thanks
    Suarez
    • #2
    • 5th Mar 18, 1:12 PM
    • #2
    • 5th Mar 18, 1:12 PM
    I think it stops at around 26k for one child. Not sure if you have more than one.
    • Darksparkle
    • By Darksparkle 5th Mar 18, 7:17 PM
    • 5,050 Posts
    • 3,287 Thanks
    Darksparkle
    • #3
    • 5th Mar 18, 7:17 PM
    • #3
    • 5th Mar 18, 7:17 PM
    The 26,000 for one child without childcare. With qualifying childcare it increases depending on costs.

    If paying 15 per week childcare, tax credits would stop at approx 27,500
    • dalo
    • By dalo 5th Mar 18, 8:43 PM
    • 177 Posts
    • 35 Thanks
    dalo
    • #4
    • 5th Mar 18, 8:43 PM
    • #4
    • 5th Mar 18, 8:43 PM
    Thanks Darksparkle, I might rejoin the childcare voucher scheme at work before April so I won't then need to claim tax credits at all. I'm hoping for a promotion so I will be over the threshold anyway. I do only have the one child and am a single mother.
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