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tax credits and childcare vouchers

(10 Posts)
ladylush Sun 31-May-09 20:54:34

Maybe a bit premature as baby not due for another 3 months but wondered if anyone has any advice wrt tax credits and childcare vouchers.

I haven't claimed tax credits before as dh and I were earning just over the threshold. However, I am now told that with another dc we may be entitled to something.

I didn't claim childcare vouchers before as I didn't want my pension to be adversely affected (NHS pension). However, the childcare coordinator said it is unlikely to make much difference to my pension because I will be working for many years beyond when I'll be claiming. I think it would make quite a difference to our income - which will be much reduced as I'll be going from 5 days to 3.

HappyMummyOfOne Mon 01-Jun-09 09:27:24

Whichever route you take, make sure that you dont claim both on the same amount.

ladylush Mon 01-Jun-09 15:49:57

What does that mean HappyMumofOne?

HappyMummyOfOne Mon 01-Jun-09 16:38:07

For eg if your childcare is £200 a week and you get £160 from tax credits, you cant then pay with childcare voucher scheme on the same £160.

It usually works out better financially if you can claim tax credits help with childcare (its capped based on salary though so a lot of couples where they both work dont qualify). For those that dont qualify, the vouchers can save them money and both can claim if both employers have schemes.

ladylush Mon 01-Jun-09 18:10:47

Oh I see. Thanks for that smile

ramonaquimby Mon 01-Jun-09 18:13:33

dunno about child tax credits as we're above threshold - but with regards to childcare vouchers - its a v short period of time work wise where you'd be claiming the full whack, so very unlikely to affect your final pension.

ladylush Mon 01-Jun-09 18:18:04

Thanks Ramon smile I wish I hadn't been ill-advised when pg with ds. We really struggled when I went back to work. I'll be doing 3 days a week so childcare will be around £135 a week, though I'm told I can claim for afterschool club for ds as well which is an extra £30-£40 per week.

ladylush Mon 01-Jun-09 18:19:33

I mean ramona - that'll serve me right for shortening a nickname grin

ramonaquimby Mon 01-Jun-09 18:23:38

lots of people think ramon - I think hairy guy with funny accent.......that's not me!

ladylush Mon 01-Jun-09 18:31:47

grin I have more of an image of a handsome and mysterious Spanish man. Shame that's not you wink

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