How much help will we get?

[Mrs-C]

I know the baby element is stopping in April and the WTC is dropping to 70% for child care help.

I currently earn £18,000 a year and DH earns around £16,500. Child care will cost us £50 a day (ridiculous!) when I go back to work. We can't afford that much a month when our mortgage alone is nearly £900 a month.

Will we qualify for help or do I really need to come up with a plan b?

 

[firstprincess]

You will still qualify as neither of u earn over 30,000.... but they won cover all of the childcare so its working out whether its worthwhile. x

 

[angel777]

what does everyone mean when they say the baby element is stopping?? in confused!! x

 

[hotpinkangel]

I don't think you'll get any help Hun, we get 28,000 a year and get no help at all towards childcare, which is why I don't work as we would be worse off. X

 

[xoxsarahxox]

what does everyone mean when they say the baby element is stopping?? in confused!! x

im sure its when you have a baby under one you get a higher payment in tax credits. i could be wrong though lol

 

[littleblonde]

the baby element is an extra 545 pounds a year that you get till your child is 1. Thats stoppin come april. When we had a join income of 26000 we got 80 a mth tax credits but that included the baby element. You may get a little help. But tax credits and workin tax are changin in april but i have found nothin to say how much. Normally sites like entitled2.com are helpful. However they wont be accurate now as they wont show aprils changes x

 

[hulahoop09]

Not sure if this helps re the baby element

https://moneyworld.com/UK_Tax_Guide/tax_credits_and_child_benefits.htm

I understand CTC may be less after April for new babies but I am not sure how you figure out what you could be entitled to


x

 

[Mrs-C]

It's mad how are you supposed to afford £50 a day for child care when once the tax man has had a go at my salary, I get about £55 a day!

I think I'll have to worry about it nearer the time. Doesn't sound like I can afford to go back to work BUT if I don't go back, we can't pay our basic bills like mortgage, council tax and food!

 

[ClaireLouise]

I feel for you hunni!

Me and my partner are on very similar wages to you and your partner but im very lucky in the fact that i dont have to pay for childcare (the mother in law and a good neighbour look after him) so i only end up paying out about £100 a month (not registered childminders though).

I currently receive about £81 CTC per month and £10 (ish) a week CB.

Do your employers not offer childcare vouchers hun? So then at least you're not having to pay tax onto the amount you pay?

 

[Mrs-C]

I feel for you hunni!

Me and my partner are on very similar wages to you and your partner but im very lucky in the fact that i dont have to pay for childcare (the mother in law and a good neighbour look after him) so i only end up paying out about £100 a month (not registered childminders though).

I currently receive about £81 CTC per month and £10 (ish) a week CB.

Do your employers not offer childcare vouchers hun? So then at least you're not having to pay tax onto the amount you pay?

I wish we could leave LO with MIL but she's not well enough and it looks like they'll have moved miles away by the time I go back to work.

They do offer the childcare vouchers. I'll have to look into that some more, thanks!

 

[Dream.A.Dream]

I'm in a similar position. I had to resign from my job because once I paid for nursery and travel I'd have been working 9-5.30 for £5. My OH earns around 20k and myself would have been earning around 7.5k and that was too much to qualify for any help with childcare x

 

[Mummy2B21]

You would be better off staying at home hun, if your not working and your husband only earns £16.500pa then you might be entitled to some help as there wouldnt be much posint for you to go to work if your only going to have £100 a month after childcare costs.