I currently work 2 days a week 8.30 to 5.00pm. DS attends nursery and DD goes to wraparound care at school. My salary is around £5800 a year and my childcare costs around £140-150 per week of which we claim around half back in tax credits.
I have been advised today that from Sept they would like me to take on more responsibility as my supervisor is moving to an alternative job and they want me to take on some of her role. This will involve me increasing my days to 4 and getting a pay increase to around £13000; all of which sounds great other than I would then lose all but the basic tax credits and have doubled my childcare costs & travel expenses along with, most importantly, losing time with my DS & DD.
Taking all of this into consideration along with starting to pay tax, NI & higher pension contributions I won't really be much better off financially. However, the alternative is that I am likely to be made redundant if I don't take it as they will incorporate my role within my supervisors when they advertise for a replacement.
Caught between a rock & hard place and don't know what to do for the best, oh and they want my decision by tomorrow!!!!
Any advise please...........