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Child tax credits-does anyone get 70% like they say?

(15 Posts)
TwittyMcTwitterson Sat 08-Feb-14 17:55:10

Exactly that ^^

I changed my Childcare provider this week. Costs are exactly the same but received a new award notice. On the back page it stated next yr we will receive £29 a month. This year we receive £165.

Currently we receive 22.9% and next yr 4.12%. It's going to be horrific. I don't know where we'll get the money from or what we'll do. I'm terrified.

I think the only ppl who get a lot of help are people who earn very little. We aren't high earners.

Thecircle Sat 08-Feb-14 18:01:00

The % you get is based on your income.

Check the income on your award notice, if it's wrong call the helpline.

17leftfeet Sat 08-Feb-14 18:05:38

Next years is a prediction based on an estimate of your earnings this year, they tend to estimate you get an inflation based pay rise so it may be wrong and you won't really know until renewal

I've never known anyone get 70% but I have known people get stung with overpayments and having to pay back when they are either entitled to the free 15 hours or a child starts school and your childcare costs reduce mid year

Meglet England Sat 08-Feb-14 18:05:41

Yes. I get 70% of childcare costs. I'm a LP, 2 DC's and and earn £8k.

Mumof3xx Sat 08-Feb-14 18:07:05

I used too now I get about 50%

TwittyMcTwitterson Sat 08-Feb-14 18:43:43

The earnings on the statement are not quite right but not much out. I understand it's based on percentage but at what point does £720 become affordable? It certainly isn't for me and though I'm not quite being forced out of work/better off being a SAHM it's not far from that I feel.

I've investigated all options, if I was an LP they'd pay enough to cover fees with all elements added together. (Sometimes I don't even need that persuasion to leave wink) but running a home myself would be as hard as covering Childcare so not an easy way out (plus I obv love him and am playing for keeps but it's an option iykwim)

Anyway, not working at all I'd get £6 a week ctc and working I'll get approx £30.

I'm at a loss of what to do next. I feel alternating shifts may be the only option confused

oliviaoctopus Sat 08-Feb-14 18:45:06

On around 30k most of childcare is covered if you have 2 in full time or thereabouts. If you earn above that then you get less.

TwittyMcTwitterson Sat 08-Feb-14 18:46:17

Also, I've spent ages looking forward to these 15 hours free but I have recently learnt that if I want her to go and spend time socialising at pre school (which I do) I'll have to pay CM as normal to keep the place so it doesn't help me anyway confused

I'm just being ungrateful aren't i hmm

LittleYellowDuck Sun 09-Feb-14 08:42:59

oliviaoctopus , where can I can I find out that information? I have two in full time CM and I have done the HMRC calculator online and came back with zero help
I earn 26k
Is that the correct website ?

KosmoKramer Sun 09-Feb-14 08:47:42

Yes, little yellow duck. Are you ticking the box that says your childcare provider is Ofsted registered / an approved childcarer? That's the only way it will recognise your costs.
I earn £26k and get a lot back fom Working Tax.

It's up to 70% but also there's a maximum amount a week, which can be less than 70% of the cost of your childcare, especially if you have more than one child.

Sounds odd to me that you still have to pay a full day at the childminder. I thought some just charged a retainer fee or half days instead?

MisForMumNotMaid Sun 09-Feb-14 08:51:36

When my eldest started nursery linked to a school they allowed him to breakfast club then took him to the nursery. The private nursery then picked up from school nursery for the afternoon session. This arrangement was cheaper than a childminder, but I only did it three mornings and one afternoon.

I don't know your area or setup but have you enquired about other options?

But I've got three now and logistically its better with me at home.

oliviaoctopus Sun 09-Feb-14 08:53:07

Littleyellowduck - With childcare that cant be right. We earn about 6k more than you and get 8k a year. I just ring them as its easier

Blondeshavemorefun Sun 09-Feb-14 09:22:31

Bertie a mindee even tho at pre school is taking up a place of an under 5 and cm Can't fill it for 2.5/3hrs so still charges - plus if child fell over / was ill etc cm would go and get as parent would be at work

Op - could you use the 15free hrs with your cm instead of pre school. Cm follow ofsted and early years - even if for a term or two to help you financially

Don't know anything about tax credits

TwittyMcTwitterson Sun 09-Feb-14 10:00:00

Olivia octopus, how many DC do u have in Childcare? First yr back we earnt approx 35k n only got 2.5k for one child. Nursery costs were 820 at that point for 1DD

I calculated with two kids n even then didn't get 8k... Just in case wink

I want to do pre school if I can then she will get to socialise with kids her own age n get used to a school before she had to go. And the uniforms are so cute smile

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