CONFUSED! I have been on maternity leave for a almost a year and now have to make decision to either go back to work or not. I need genuine advise. My salary is £38k and my husband earns £49k. We have 3 children two in school and a baby. Am I better of:
1. Going back to work full time and pay £160/week childcare. I used the calculator and I will not get any tax credits because of my salary?
2. Go back to work part-time like 2.5 days a week which cuts my salary to £19k then claim working tax credit and child tax credit?
3. Stay at home and look after my children and claim I dont know whatever benefits there could be?
If all of the 3 above are not optimum what other options to I have. I prefer your answers to have calculations in them so I can see the numbers and make sense of them!!
Thank you!
1. Going back to work full time and pay £160/week childcare. I used the calculator and I will not get any tax credits because of my salary?
2. Go back to work part-time like 2.5 days a week which cuts my salary to £19k then claim working tax credit and child tax credit?
3. Stay at home and look after my children and claim I dont know whatever benefits there could be?
If all of the 3 above are not optimum what other options to I have. I prefer your answers to have calculations in them so I can see the numbers and make sense of them!!
Thank you!