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Lone parents

Use our Single Parent forum to speak to other parents raising a child alone.

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Original poster

Tax credit amount... is this right??!

20 replies

draughtywindows · 22/09/2013 11:00

sorry if this subject has been done to death, but I've just done a benefits checker calculator and it says I'd be entitled to around £150 a week in tax credits, based on paying for childcare 2 days a week and earning a part time wage. Does this sound about right? If so, I'm delighted, it means I'd be much better off than I thought. Can't believe it!

Also, to be eligible for WTC, do I have to work at least 24 hours a week or is it 16 hours?

Thanks anyone.

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Wereonourway · 22/09/2013 11:04

Probably is right. Use hmrc website to do a claculation and ring ASAP for claim form as claims only backdated 31 days.

If you are a single parent then its 16 hours

Original poster

draughtywindows · 22/09/2013 11:08

Thanks wereonourway, that's v useful.

OP posts:

EhricLovesTeamQhuay · 22/09/2013 11:25

Ygs sounds right. I used to get around that when I earnt about £21000 and paid around £150 a week in childcare.

Hamwidgeandcheps · 22/09/2013 11:28

Yep it's right I work 22 hours a week and get 970 odd amontb paying for 2 days child care for two dc

queenofthepirates · 22/09/2013 20:16

I've got an advanced degree in science and I cannot for the life of me work out my tax credits statement; it is a complete mystery as to how it's calculated....

carlywurly · 22/09/2013 20:18

Queen, I am equally baffled by it. I just submit the info and cross my fingers it all somehow works out.

Meglet · 22/09/2013 20:22

That sounds about right. I've been claiming as a LP for almost 5yrs now, mine is around that amount and it's always been right.

I keep a spreadsheet of all my tax credit phone calls and make sure I let them know of changes within a week or two. I don't just wait for renewal time.

ilovepicnmix · 22/09/2013 20:39

Sorry to jump on the thread but does anyone know how employee vouchers impact? I pay £243 a month that way towards my childcare but wonder if im shooting myself in the foot iysim.

EhricLovesTeamQhuay · 22/09/2013 20:43

Ilove - if you are under the threshold for childcare element then you are (or used to be) better off claiming the childcare element of tax credits. But if you earn over that threshold then take the vouchers until the Tories steal them just make sure you don't get both - that's bad.

I read that on money saving expert - it would be a good idea to have a look for up to date info as I know things have changed in tax credits recently.

Meglet · 22/09/2013 20:53

ilove I looked into the vouchers a few years ago and IIRC it didn't make much difference for my situation, and was potentially a PITA for the sake of a few quid. So I decided against it.

Original poster

draughtywindows · 22/09/2013 20:54

Thanks everyone, it's really helpful to know I'm roughly on the right track. Bloody great news!!!

OP posts:

LamaDrama · 22/09/2013 23:23

Is that £150 WTC & CTC together OP?

Im back to work soon after mat leave,

LamaDrama · 22/09/2013 23:25

Sorry - would you get any housing benefit or do you have to pay that from the wages. Its all so confusing.

17leftfeet · 22/09/2013 23:28

ilovepicnmix

I get the vouchers and I'm better off claiming them

My income reduces by the value of the vouchers but the cost of my child care reduces by the same amount as you report what it costs additionally to the voucher

Because I don't qualify for the child care element I'm about £40 a month better off

TheOrcHeadKeeper · 23/09/2013 02:01

What llama asked?

ilovepicnmix · 23/09/2013 06:43

Sorry I should have said that I do vouchers but do get the childcare element. Why is that bad? I've been wondering if the reduction in tax credits I get for using the vouchers is more than what I save by using them so am I diddling myself?

EhricLovesTeamQhuay · 23/09/2013 08:09

You can't have the childcare element and vouchers - you're benefiting twice. I don't think you do get the childcare element if you get reduced tax credits. I think you'd better check your letters because you don't want to get in trouble.

Lamadrama housing benefit (local housing allowance) is a separate benefit, caculated on household income, which includes tax credits but not the childcare element. To see whether you are entitled to that you need to look on your own local authority website where there should be a calculator.

ilovepicnmix · 23/09/2013 13:52

Oh dear! They definitely know as I told them and it states it on their letters to me but I will check as I don't want to end with having to repay anything. Thanks

17leftfeet · 23/09/2013 19:02

you can have both

if your total childcare bill is £800 pm and you get £200pm in vouchers then you tell the tax credits that your childcare costs are £600 and you can get tax credits based on that amount if you are still eligible

(according to the lady from the tax credits that I spoke to when I renewed)

EhricLovesTeamQhuay · 23/09/2013 19:48

Aha that makes sense
Sorry if I scared you! However I'm pretty sure that it's not worth doing it that way as the amount you save from the vouchers is less than the tax credit payment you would get on the same amount of childcare.

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