back to work SORRY WOBBS

[Squeakz]

hi ladies, we worled out well tried to based on the tax credit calculator what thw options are for eeturning to work aftwr matwenity taking in to consideration childcare. its apparentlt best for me to go back full.time and our childminder will take both boys for 6.75 ph but we still end up losing 515.00 a year. thays with a full buget erc. how depressing. how are we ever supposes to save propeely?!?* also how does that tax credit system workes. we know it goes of laar yeaes wages but then also your aiyuation at the time as well does anyone have anymore information....we called the tax office they just said go yo the online calculayor....x**

 

[titch]

What?

 

[LoopyLouize]

Lol have to echo Titch... ey? Its really hard to make sense of your post hun x

Sent from my GT-I8190N using Tapatalk 2

 

[Squeakz]

sorry. i have fat fingers with a touchscreen. ill make it simpler. was wondering how you work out what tax credits you are eligible for come going back to work time so i can work out whether to do pt or ft.

the only information we found was based upon laat yearsincome which meant every year according to an indepth budget we made we would lose 515pounds every year.

does that make more sense...?!? xx

 

[titch]

Tax credits is calculated on last years income. If in the current year you estimate a significant increase or decrease in income you tell them over the phone and they work out on that but are liable for any over payments if you end up earning more than you predicted.

Include childcare costs in your calculations as this affects the amount you get. Most people seem to find working 3 days strikes a good balance with tax credits

 

[Squeakz]

ok so based on last years salary and predictions we can make about our work etx the best deal we can strike is me back ft, paying 6.75phnchildcare and we lose annually 515.00 which doesnt make sense ....... booo xx

 

[littlemonkey]

It depends on what you and your OH earn, and how many hours a week you Work. My DH and I both work full time, so we get naff all. There is no difference for us financially between me working part time with no childcare costs, and going back to work full time, having to pay for childcare.