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help working out childcare cost for tax credits anyone pls?

3 replies

cappuccinodays · 20/03/2013 12:22

Hi
Im hoping someone can help...
what is the best way of keeping on track with childcare costs ?
My ds started school in Sept 12. He goes to after school club twice per week and it costs £17.90. He wont be going in the school holidays. I worked out in total there are 13 weeks of the year of school holidays (52-13 =39) So do I say my childcare cost is
17.90 x 39 = 698.10 then 698.10/12 = £58 per week??
TIA

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cappuccinodays · 20/03/2013 12:31

i meant £58 per month.

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Meglet · 20/03/2013 20:54

They'll do all the sums for you when you call the tax credits line. I receive childcare tax credits all year round, even though nursery is closed at Xmas. It all balances out over the 12 month period.

But, yes, I think they will come to the same answer. Then assuming you are on a very low wage they will pay you 70% (or less if you earn more) of the £58 a week.

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cappuccinodays · 21/03/2013 09:20

thank you meglet, i found a calculator online that does it for you too. :-) on HMRC website