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Working part time and tax credits - dilemma. Any advice please?

(16 Posts)
Janos Sun 12-Oct-08 16:59:59

Here's my situation.

I work full time and care for my DS. I don't see him nearly as much as I would like.

In amongst all this I attempting to have one of those things called a life...you know how it is!

Anyway, I am lucky enough to have a job that is ok, not fabulous pay, but secure and family friendly.

Thing is, I need every penny I get. I get tax credits for childcare (essential), but if I reduce my hours I would be able to get WTC (earn just enough NOT to get it right now working full time).

This would leave me with more time to spend with my son and get errands run etc, plus a little me time.

Of course this will affect my career propects. My job is OK but I don't want to do it forever.

What to do - has anyone any experience of this? Any helpful words of advice?

Thanks.

Janos Sun 12-Oct-08 17:50:04

<bump>

Anyone? Should this be in another topic? Ta.

TheOriginalXENA Sun 12-Oct-08 17:53:20

have you looked at their site? put in what your new details would be and they will tell you what you would be intitled to for the last 25? weeks of the finacial year.

Janos Sun 12-Oct-08 17:58:40

I've been on entitledto.com but not the actual tax credits site (D'uh).

Will try it now, thanks TOX.

LRB978 Sun 12-Oct-08 18:01:34

Hey

Just want you to know you're not alone.
I was working full time, a new temp job. I lasted 3 weeks before dropping an hour a day. I now work 8.30-4 instead of til 5 and it does make all the difference, I found. It shouldnt vastly affect your career prospects, although that depends on your job and the amount of time you drop. Another possibilty your employer may go for is creating a job share in your role. This would ,however, drop your hours and thus your wages dramatically.

Oh, and as for errands - how do you shop? I have recently started food shopping online and found that the time and stress I save on more than outweigh the £5 delivery charge.

CarGirl Sun 12-Oct-08 18:05:24

If you drop to 30 hours you may get some help, again if you drop to 16 hours you will def get help but not sure whether you can afford to live on it?

Basically you get one level of assistance if you work 16 hours per week and an extra level if you work 30 hours per week. with either you may be eligible for help with your childcare costs.

Janos Sun 12-Oct-08 18:08:40

I already do the shopping online thing LRB978, it's an absolute godsend isn't it?

It's the wages dropping thing I'm most concerned about.

According to the tax credits page, I wouldn't get that much more.

I'm so tired...what I really want is just an extra bit of time!

CarGirl Sun 12-Oct-08 18:10:11

Do you rent your home if so you may then become eligible for some housing benefit and council tax benefit?

Janos Sun 12-Oct-08 18:13:46

I do rent CarGirl, currently I earn too much to qualify for HB (which is really not that much).

I don't need huge amounts of money..just enough to live on and buy food really.

Only CT benefit I get is the single person discount.

CarGirl Sun 12-Oct-08 18:19:16

have you checked if your income goes down whether you will then become entitled to some HB? I got HB 8 years ago when my income was around £14k per year and my rent £750 per month.

Janos Sun 12-Oct-08 20:32:18

I checked on entitledto.com and I do get housing benefit if my income goes down..but only by £3 per week!

Does anyone know, is the level of support you get higher if you work 30 or 29 hrs per week? or would it not make a difference? I tried entering data for each but can't see a significant difference.

CarGirl Sun 12-Oct-08 21:02:23

30 hours counts as full time for tax credit purposes

taken4granted Thu 16-Oct-08 20:31:42

how do you find out about housing benefit anyone?

sweeneytodd Thu 16-Oct-08 20:36:37

you have to work 16 hours or more a week to be entitled to the childcare element but working over 30 hours entitles you to extra money

travellingcircus Thu 16-Oct-08 23:03:56

I work part time 22.5 hrs per week and get nearly 700 per month- have 3 under 6. Not sure about HB? With regard to career prospects (training to become an accountant) wanted to go full time but really torn between then not having enough time with the kids. Have decided to look into University funding for next September. Great holidays etc. and a degree for the career to boot. Plus I then get to go full time when the kids are older and more 'ready'. Course if you already have a degree, this won't be much use- just a thought x

CapricaSix Thu 16-Oct-08 23:11:05

I work 3 days a week 9-5, my salary is £9k. My rent is paid in full, I get CTC and WTC too. I think I'm about £40 per wk better off working than I was on benefits, but £20 of that is swallowed up by travel.

I don't have a mortgage, or maintenance from an ex either. I use a cheap CM for dd, who is school age.

tbh I am happy living on the breadline as it were and having a better quality of life, than working my socks off just for a bit more money. That never made sense to me. I am studying now though, in the hope that I will figure out what I want to do career wise sometime in the future. My hope is that one day I will be richer, but you know, at the end of the day, it really is not the be all and end all, there are far more important things in life.

Have to add though, I am very lucky in that I have a nice flat in an ok area, a wonderful landlord, and also parents who can help me out if I ever got desperate.

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