Tax credits-help!

I just don't understand. When I go back to work, what can I claim for childcare?

I've looked on the calculator thing online and are Tax credits different to Child tax credits? Which do I claim? We're both working FT, not in receipt of any benefits.

I'm a numpty   Crying


Posts

  • There are two types of tax credits, child and working tax credit. Did you do the calculator when you went on there? Pop in all your details and it should give you a rough idea of what you could be entitled to.

    Give them a ring, they can so a calculation and tell you whether you can claim. We have done it based on us both working, for when I go back and we don't get anything due to OH's overtime :/

  • i just looked and it said we arnt entitled because we earnt more than 26k?

    surley thats not right?

  • Monnie, I think that's the new limit if you have one child.

    Sange, are you being offered childcare vouchers through work? There is a calculator on HMRC website which tells you which you would be best going with.

  • They lowered the thresh hold last year Monnie so that will be right

  • I've just been on the phone to hmrc, £26000 is cut off (before tax) and so I get nothing. I asked for an estimate for once bump is here, and I may get £16 a week...there's no help if you work hard!

  • i just dont understand becasue if you both work it would be a rare situation for you to earn under 26k between you, and if only one of you works , i would also pressume they earn more than 26k? but maybe thats me becasue we live near london?

  • The 26 grand is for Tax credits, not the Child ones. I managed to decipher that much!

  • We went to see someone about this yesterday, as my husband lost his job, and with me on ML we thought we may be entitled to something - we arent!  If you earn over £26 or 27K then you arent entitled to any sort of tax credits, working or child, All we are entitled to is child benefit.

  • Blimey. So how the **** am I supposed to go back to work then?

  • You can claim childcare vouchers from your employer if they do them?  I think this is about £100 a month, it gets taken off your salary before you get taxed, so it itsnt money given to you, more that you just get taxed less.  I think! I need to look more into it myself.  I don't think it costs your employer anything, but they'd need to set up a scheme if they dont already.

  • You can claim £243 a month child care vouchers which come off your salary Pre tax, saves you £77 a month.

    You also get £19 child benefit a week

  • I don't think they do vouchers. Bu**er.

  • Yep that's right if you or you and a partner earn more than £26k you're entitled to nothing. They lowered the threshold about a year ago to that from about £44k!!

  • I don't get anything this year because if the redundancy packet I got last year :-(

  • It is really confusing, and perhaps I have got this wrong.

    But I think you can get childCARE tax credits, even if earning over £26k. According to this, you could still get some money, depending on how expensive your childcare is, if earning up to £40k between you. It's not a lot though. www.hmrc.gov.uk/.../work-pay-childcare.htm

    Child tax credits are different, they are not dependent on your childcare costs, and you will not get them if earning over £26k.

  • Don't start me ranting about tax credits! Surely the clue is in the name in that it is a credit of the tax you pay back, so how can people who don't pay tax get it? Tax and benefit system is far too complex!

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