Hi,
I have just recently returned to work after being off for maternity. We've put our daughter into nursery full time, so that I could return to work, but nursery fees are high and if it wasn't for tax credits, it wouldn't be worth me working. Last year I didn't earn as much as I usually do, as they don't count any maternity pay, so although we're getting help with childcare this year, I'm worried that next year we will be much worse off as I'm working this year and they go off the previous years earnings.
Here's our main income/ out goings:
Our 2 income for this year will be around £28,500 (My husband works full time while I work part time)
Nursery fees per month are £670 (We also have 2 other children in full time education.)
Last years income was only £22,000, which is why we are receiving more help with childcare.
Someone told me that if we earn over £25,000 as a couple, our tax credits would be stopped altogether, is this right?
I think my husbands company do a childcare voucher scheme, but I am yet to look into that.
I am trying to decide whether it's worth carrying on working this year, if it will hit us next year when the new tax year begins. We have a mortgage to pay and I'm just getting a little worried.
Sorry if this all sounds gobbledy-gook.
If anyone could help, or could suggest where to find help that would be fantastic!
Many thanks!
I have just recently returned to work after being off for maternity. We've put our daughter into nursery full time, so that I could return to work, but nursery fees are high and if it wasn't for tax credits, it wouldn't be worth me working. Last year I didn't earn as much as I usually do, as they don't count any maternity pay, so although we're getting help with childcare this year, I'm worried that next year we will be much worse off as I'm working this year and they go off the previous years earnings.
Here's our main income/ out goings:
Our 2 income for this year will be around £28,500 (My husband works full time while I work part time)
Nursery fees per month are £670 (We also have 2 other children in full time education.)
Last years income was only £22,000, which is why we are receiving more help with childcare.
Someone told me that if we earn over £25,000 as a couple, our tax credits would be stopped altogether, is this right?
I think my husbands company do a childcare voucher scheme, but I am yet to look into that.
I am trying to decide whether it's worth carrying on working this year, if it will hit us next year when the new tax year begins. We have a mortgage to pay and I'm just getting a little worried.
Sorry if this all sounds gobbledy-gook.
If anyone could help, or could suggest where to find help that would be fantastic!
Many thanks!