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what to do?

Discussion in 'Parenting' started by bradley10, Jan 6, 2011.

  1. This is going to be very garbled and i apologise now.
    I would ideally like to go back to work part time (well if I am wishing for things I don't want to go back at all! - but thats not realistic) really don't want to work full time. Trying to sort out whether we can afford it is a nightmare! OH is self employed and so does not have a fixed wage - would we be entitled to Working family tax credits? I have no idea but can't ring them at the moment because don't know what OH earned last year yet! I don't want to be thinking about this now - LO is only 9 weeks old but there are redundancies going to happen at my school and therefore if I want to go part time I need to get the request in soon! ahhhhhhhhhhhhhhhhhhhhh
    Any advice appreciated
     
  2. This is going to be very garbled and i apologise now.
    I would ideally like to go back to work part time (well if I am wishing for things I don't want to go back at all! - but thats not realistic) really don't want to work full time. Trying to sort out whether we can afford it is a nightmare! OH is self employed and so does not have a fixed wage - would we be entitled to Working family tax credits? I have no idea but can't ring them at the moment because don't know what OH earned last year yet! I don't want to be thinking about this now - LO is only 9 weeks old but there are redundancies going to happen at my school and therefore if I want to go part time I need to get the request in soon! ahhhhhhhhhhhhhhhhhhhhh
    Any advice appreciated
     
  3. You can go onto the tax credits website and fill in a form online which would give you an estimate of what you may be entitled to. This does not mean you have made an application so you can do it with as many estimates as you wish. I think you have to have quite a low income to qualify for working tax credits but I have 3 children, my OH is self employed and we are entitled to some child tax credits, which is a different benefit. It is worthwhile speaking to someone on the helpline as being self employed there are some deductions you can make before you declare your income, and if you pay into a teacher pension I think you can deduct that too. There is a higher rate for children under 1 year and then a flat rate up to 16. Also extras for disablilty etc. Hope this helps.
     
  4. madenglishgirl

    madenglishgirl New commenter

    I'm pretty sure that you need to have a combined income of 16K or less to qualify for Working Tax Credits - although as it stands at the moment, you would be entitled to Child Tx Credits.
     
  5. Hi,
    There are two elements to tax credits;
    Working tax credit and child tax credit, you get them on the same assessment. Within the child tax credit you receive the baby element until the baby is one year old after that your credit drops.
    Example of child tax credit
    With my first child I wasn't working to start with so my hubby earned about £26K and we got £250 a month. When I started working on M3 (about 21K then) it dropped to £42 a month.
    With my second child now, my hubby on 38K and me on m6 (about 30K) we just scrap in under the limit and we receive £32 a month most of this is because my child is under one. My nursery fees have always been high, the are currently £510 a month (I managed to get a term time only nursery!). I think these are always taken into account.
    We have never been entitled to working tax credit, I think this works on combined household income of 16.5K or lower.
    http://taxcredits.hmrc.gov.uk/Qualify/DIQHousehold.aspx
    I hope this helps and doesn't make you more confused!
    GEO

     

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