Tax credits with 3rd child

[Lisa84]

Hey everyone just a quick question about child/working tax credits.

Dh and I were discussing having a 3rd child and whether we can afford so i told him it was pointless discussing it until i found out exactly what we would be entitled too. Currently we would be entitled to just under £2000 a year but it said that with a 3rd child we would be entitled to £6000 this means we would be better off financially having a 3rd child which doesnt make any sense

We currently have to contribute £410 towards our childcare bill but with 3 children in for the same amount of time we would only have to put £330 towards it. Im so confused haha

Surely this cant be right. I was expecting to have to give up work coz thought it would end up where we were paying more in childcare than i earn.

Can anyone help clear this up? Is this right?
I dont want to make the decision to start trying only to find out that i have got it wrong because we cant afford for me to give up work xxxx

 

[Weenie19]

Not much help BUT I've just discovered the same thing should OH and I have a second child. We would be better off with MORE kids.

Weird

Will be stalking this thread to see if anyone can shed light on the situation x

 

[Lisa84]

Hey weenie thanks for your reply. I have spoken to alot of my friends and it seems it is right that the more children you have the better off you are. I thought at first that surely that cant make sense but then i realise this is england and the benefit system is well and truely backward so its probably right lol xxx

 

[Weenie19]

Hey weenie thanks for your reply. I have spoken to alot of my friends and it seems it is right that the more children you have the better off you are. I thought at first that surely that cant make sense but then i realise this is england and the benefit system is well and truely backward so its probably right lol xxx

Lol very true. Shocking really but as we were both considering another child BEFORE discovering it was financially beneficial I'm not going to feel bad about it. Time to join the TTC threads??? lol

 

[Lisa84]

Not just yet. Think we are gonna wait till they are at least 8 months xx

 

[hmaz]

I was surprised by this as well. OH and I have just had our second child and I plan to be a stay at home mum for two or three years before going back to work. once I've left work we'll be entitled to about £30 a month in tax credits but if we had a third child we'd be entitled to £310 a month. I'm so confused?!

 

[Abz1982]

It deems to be true. With one kid we are entitled to nowt.........but with 2 it seems we would get 8k a year odd, that's with a joint income of 44k and £300 a month childcare...