To be pissed off at the new tax free childcare

[childcarechallenge]

NC for this.

We have two DC in childcare and live in London. I'm starting a new job next month and my salary is 48K, after tax, student loan, childcare costs and tube to work plus a few other generally working expenses (clothes etc) I've worked out that I will take home less than £200 a month.

DH earns a good salary which is good because we almost completely rely on his salary for rent, bills etc. He just received a large bonus which pushes him over 100K which is the new limit for the new tax free childcare scheme from the government.

Essentially, between 100K and 120K after tax, student loan, the loss of his "tax free allowance" which is clawed back over 100K, and the fact that we will not be able to claim £4000 back on our childcare because he is no longer under 100K (This applies to BOTH of us because of his salary) means that of that £20K we are actually only £1800 better off. AIBU to think that this is complete robbery - DH works extremely hard, very long hours (sometimes 70 hour weeks) in a high stress environment and the government seem to take an obscene amount of his salary.

We have an opportunity coming up to move to a lower tax country in a year or so with his job and this just makes me really want to take it, AIBU?

Yeah I have said throughout the thread that it is a real toss up for me.

Part of the reason why i think i'm so set about HK is that i know its a great excuse not to work and to spend time with DC (2 working households is difficult unless you hire a domestic helper who lives in a room attached to the kitchen that is so small they build special smaller than single sized beds for them!! Which i am not prepared to do).

But I've more or less set this train in motion now, my start date is in a month, i've signed all the forms etc even picked a laptop and phone. I will at least give it a go.

I didnt want to go back to work after DC1 either but once i got back I actually enjoyed it, although the commute was a lot less and I was only working 4 days.

No, probably feudal servitude of desperate immigrants in poor conditions wouldn't be a great move. Thumbs up on that.

diana i know , i know

childcare

I would agree with dixie about keeping your hand in

Well some people think we're not allowed a view on London. Despite the whole country revolving around it.

I am very excited about the new job, its something i've always wanted to do - I just need to suck it and see.

Yeah, venus its really something else... www.ejinsight.com/wp-content/uploads/2015/03/1015779_3aa19e7f3c7a6f3902ff2901632ef1e3-692x360.jpg

It's terrible.

I do wish you well with the job, despite all appearances!

Hahaha, thanks :) it is actually - and i'm being very honest here - a job that is very good for society, by pretty much any measure. It's one of a kind though so i don't want to post here!

I'm sure it is, I believe you! Any speculation on my part was purely for the purposes of arguing a point

That sounds great, Dixie. I hope it works out for you.

DH is home - off to bed, night all x

OP I would try to find a part time job while your kids are small - you don't benefit financially in the short term but you keep your foot in the door and you can return to work full time when you feel ready or when it financially benefits you. To give up work to look after your dcs is risky, returning to work is very challenging and your earning potential will diminish. The tax issues are a bugger but that's the way it goes, it is what iit is and although it seems unfair, you will get very little sympathy - too few people are affected and those that are are not in the to be pitied category.

cc, I think you're just having a few understandable last minute thoughts about the new job but once you are back (just as after your first maternity leave) it will all be fine. Most women who give up work later regret it particularyl in the 50% of marriages which fail where often their husband manages to avoid paying or hide the money (pretty easy if you can have an international career as you husband might). Also it's a great example to your children to see their mother working. It's hard for men and women to work when their children are under 5 but in a few years time it really pays off. Go out there and out earn your husband in due course!

I think that it can be very difficult to come to terms with not taking home any money even though your life is full of responsibility. That's not the vision that keeps people going through university and the beginning of their career.

still for me the question is whether you really are very likely to move in a year, and whether that really gains you any good experience in that year. OTOH, you could start the job, and try and negotiate the hours down after you're established (I've done this twice) but it usually takes 6 months and then if you're gone 6 months after that...but your DH has to have a clear view on whether he can say no to the move, whether he wants to say no and whether the move is really happening. But if you do feel it's worth doing this job for 1 year given all the constraints then good luck!

Wherever you fall in the system it always sucks. I am in the situation that when I return to work after second Mat leave in 4 months time my take home pay will not cover the childcare costs. When the 15 hours funding kicks in 8 months later it eases so its only for a short period.

We don't live in London, but not far out in a commuter town although neither of us commute into London. Husbands job limits our location in the country a lot. For those saying childcare can't possibly cost £29k - it can - ours for 5 days a week for a 1 year old and a 2 year old is just over £32k. (£67 a day for under 2, £57 a day for 2+, 7-30-6-30, childminders nearby are about £10 less a day but don't include food). If I worked full time I would earn before any deductions £34k.

I consider us to be on good salaries, I would never complain.

We knew there would be a point in time where it would cost me working but we planned for it financially, bought house before kids, saved to cover the 8 months at full childcare costs for two. (I have not used any of my childcare vouchers since returning from mat leave 1 and banked them to use to cover it).

We however fall into the catch of husbands salary is just below the CB cut off so we are always keeping an eye on it, but together we earn too much to qualify for any other help except childcare vouchers.

Oh and we both work hard but don't work in industries where there is lots of money to be given in salaries, I am public sector and husband is at the top of where he is likely to be, we both worked hard at uni, and I have a post grad qualification as well. As other have said hard work does not always equal high pay.

Noodledoodledoo Is that good enough though, for society? Should we have a system that for our very existence as a species 'sucks'?

We have a system that actually significantly favours the non working family to expand over the professional working family.

Hats off to you that you planned - I'm a planner too. It doesn't mean the system is the best it could be though.

Noodledoodledoo - why did you choose a nursery for two very young children in preference to a nanny?

Should we have a system that for our very existence as a species 'sucks'?
We have a system that actually significantly favours the non working family to expand over the professional working family.

The system is crazy and relies on people believing that their hardships will be shortlived.

I agree the system sucks and favours the childless over those raising children. It has got much worse over the last 6 years because of increases in the personal allowance for all at the expense of targeted benefits to those raising children. No excuse in a wealthy society like ours to have 45% of all children growing up below minimum income standard imho.

uk.businessinsider.com/theresa-mays-jams-joseph-rowntree-foundation-finds-4-million-people-just-above-poverty-line-2017-2