Hi all, I'm currently on ML after having dd2. After the birth of DD1 6 years ago I was desperate to go back to work and have worked ft ever since. After DD2 was born I started thinking I might like to go back pt but dont know if we can afford it. Are you ever better off working part time (21 hours) when you take tax credits into account? DH is SAHD and I am on an average wage.
I don't think you are better off - but that is a very unscientific guess. I am PT and average wage, and we are def. poorer. But it is still good to be PT! I think it depends on your job - and how much time you have when you are working FT. Also though, it is true that they are only little once.
Would be worth doing a bit of maths on your wages and seeing the difference between ft and maybe doing 2 or 3 days instead. For me personally, I work 2 days, pay for 1 day of childcare a week, which I receive tax credits for. The salary sacrifice for the credits brings my wages below the amount I am liable for tax. I actually come home each week with the same money that I would if I was ft, paying out tax and more childcare. Even if you don't have childcare costs, you might find that 3 days a week isn't much different to ft by the time you have paid NI and tax . Hope that helps!