Child tax credits

[k8bailey]

Hi. I'm currently working 14.5 hours a week earning aprox �90 p/wk before tax and paying �64 in childcare costs. My partner works 40 hours a week, and earns aprox �368 p/wk before tax would we be eligable for help with childcare costs? The baby is 7months old and goes to nursery.

TIA k8

[Psychick]

As part of Working Tax Credit (WTC) you may qualify for help towards the costs of childcare. If you qualify, the amount of help you receive will depend on your income.

You can get up to 80p for every �1:00 you pay out in childcare costs.

This is up to a limit of �175:00 in costs per week for one child and �300:00 for two or more children. Any costs that you pay in excess of these amounts are not used in the calculation.

Here is a link to see if you qualify for WTC https://www.taxcredits.inlandrevenue.gov.uk/Qualify/DIQHousehold.aspx

[annie0000]

This is a useful link - try the Tax Credits calculator which gives you a rough idea - looks like you would be a lot better off in terms of the beneifits if you can get your hours up to 16 or over.


http://www.fsa.gov.uk/financial_capability/pgt m/parents/choose-a-calculator.html

[duckie-cub]

try www.entitledto.co.uk

[natalie_1982]

Does your work or your partner's work offer childcare voucher scheme? My hubby and I both work and Emilia is 9months old and goes to day nursery when I am at work, and we earned too much to qualify for much help (�18k each), but with childcare vouchers they take the "voucher" before you are taxed, so you are taxed on a smaller amount of your wage if that makes sense.

In effect, my wages are "down" by �100 per month but I get �243 in childcare vouchers, my hubby is eligable too, so in thoery it costs us just over �200 each month to get �486 in vouchers.

[k8bailey]

Thanks for all those answers and links.
I've ordered a form for tax credits, but it doesn't look like I'll get a lot from them as things stand. Will have to look into doing another few hours at work, I think.

I hadn't heard of those vouchers before, I'll have to ask around!