Hello,
Thank you for reading, I am basically after some tax credit guru to keep me right as I am beginning to panic over tax credits. I find the HRMC website confusing and the calculators I just dont trust.
My circumstances are as follows:
My husband and I both work, Husband 30+ hours and I work 21 hours
We have two children, 3 years old and 1.5 years old, both in childcare at the moment with weekly cost of £204.
At present we get child tax credits of £580 per month towards the cost of childcare.
I believe it's this much as my income details for 11/12 were quite low as I was on maternnity leave for most of it. I think our joint income for 11/12 was £25000. My husband was self employed for a period of 11/12 but went into paid employment part way through the year.
I returned to work in March 2012 and my salary is £12,780 gross per annum, my husbands income is £26,000 gross per annum.
My 3 year old qualifies for his pre school place in January and this is going to reduce my childcare bill to £ 150 per week.
Based on our actual income for 12/13, will we still qualify for child tax credits toward childcare costs come renewal time next year. My current awards notice says we qualify for £580 per month until April 2013, of course this will reduce when my circumstances change in January and my son attends preschool for a time. I'm slightly panicking that we will get nothing once our figures are submitted as I have returned to work and our salary details are higher. Is this true? A friend who earn similar gets nothing towards childcare at all and she's only just returned to work following maternity.
Any help would be appreciated. Thanks in advance.
Thank you for reading, I am basically after some tax credit guru to keep me right as I am beginning to panic over tax credits. I find the HRMC website confusing and the calculators I just dont trust.
My circumstances are as follows:
My husband and I both work, Husband 30+ hours and I work 21 hours
We have two children, 3 years old and 1.5 years old, both in childcare at the moment with weekly cost of £204.
At present we get child tax credits of £580 per month towards the cost of childcare.
I believe it's this much as my income details for 11/12 were quite low as I was on maternnity leave for most of it. I think our joint income for 11/12 was £25000. My husband was self employed for a period of 11/12 but went into paid employment part way through the year.
I returned to work in March 2012 and my salary is £12,780 gross per annum, my husbands income is £26,000 gross per annum.
My 3 year old qualifies for his pre school place in January and this is going to reduce my childcare bill to £ 150 per week.
Based on our actual income for 12/13, will we still qualify for child tax credits toward childcare costs come renewal time next year. My current awards notice says we qualify for £580 per month until April 2013, of course this will reduce when my circumstances change in January and my son attends preschool for a time. I'm slightly panicking that we will get nothing once our figures are submitted as I have returned to work and our salary details are higher. Is this true? A friend who earn similar gets nothing towards childcare at all and she's only just returned to work following maternity.
Any help would be appreciated. Thanks in advance.