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  • FIRST POST
    • singleandskint
    • By singleandskint 11th May 18, 8:03 PM
    • 12Posts
    • 9Thanks
    singleandskint
    Tax credits renewal help
    • #1
    • 11th May 18, 8:03 PM
    Tax credits renewal help 11th May 18 at 8:03 PM
    Can somebody with experience take a look over my renewal quickly for me and see if the figures are correct please?
    Background: Lone parent 3 children annual pre tax income to April 19025
    This is where it gets complicated...
    Childcare costs, since 11/12/17 they are asking me to declare childcare of 320 a week, what I actually pay is as follows;
    Child 1 406 per month
    Child 2 406 per month
    Child 3 45 per week every week (52/52)AND 115 per week term time only(39/52)..does this average as per their calculation please?
    Really can't seem to get my head around the sums.

    Thanks in advance
Page 1
    • sheramber
    • By sheramber 11th May 18, 8:34 PM
    • 5,601 Posts
    • 4,249 Thanks
    sheramber
    • #2
    • 11th May 18, 8:34 PM
    • #2
    • 11th May 18, 8:34 PM
    you can check your costs here https://www.gov.uk/childcare-costs-for-tax-credits
    • Darksparkle
    • By Darksparkle 11th May 18, 8:38 PM
    • 5,346 Posts
    • 3,483 Thanks
    Darksparkle
    • #3
    • 11th May 18, 8:38 PM
    • #3
    • 11th May 18, 8:38 PM
    So your annual costs are 16,569. Weekly that's 319 (rounded up).

    They will only assist up to a maximum of 300 per week.
    • singleandskint
    • By singleandskint 11th May 18, 8:47 PM
    • 12 Posts
    • 9 Thanks
    singleandskint
    • #4
    • 11th May 18, 8:47 PM
    • #4
    • 11th May 18, 8:47 PM
    Thank you. So effectively I should get the maximum 70% of the 320 or is it 70% of 300?

    Not a fan of this averaging my costs as come July I'll only be paying the 1 Child minder 406 per month for all 3 then reducing to just 2 of them in September when the eldest has decided he would be shamed to have a Child minder so I've just got to look for holiday clubs.

    I really don't understand any of it as I'm looking at a period which is effectively only Dec-Apr for my declaration and during that period there has been more term time than holiday time so calculations seems a bit skewed in their favour I think.

    Thanks for the help
    • Darksparkle
    • By Darksparkle 11th May 18, 9:14 PM
    • 5,346 Posts
    • 3,483 Thanks
    Darksparkle
    • #5
    • 11th May 18, 9:14 PM
    • #5
    • 11th May 18, 9:14 PM
    70% of 300.

    You would just notify any future changes in costs and it will be readjusted however it would only change if the costs drop below 300 per week.
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