Anyone clued up tax credits / childcare etc . Don't know what would be best financial decision ?

[Fakeblondie]

Ok at present DH warns 29000 and I work part time and earn about 20000.
We have 4 dc and get cb for 3 .
Ages 19, 16,8 and 1.
receive no child tax credit at all now.
have only ever paid my childminder a nominal fee as she didn't do it for the money, but she is retiring soon so have been looking at childminders.
Most charge 3.50 hr here.
My dilemma is, I have apples to do a course and can do it over 1 year full time or 2 years part time.
They will pay me approx 25000 ft and pro rata for part time so approx 12500 pt.

The childminder charges for wt will be about 35 per day.
I thought initially id be better off doing it pt over 2 years, as pay less tax and less childcare and spend longer with dc.
Then I thought maybe I'd get help with childcare costs via tax credits if I'm paying ft 35 per day, maybe it would be financially better.
it's so confusing.
if I do it part time I could take our joint salary under 42000 so does that mean I'd get tax credits again ?
My salary for the course is negotiable but around the 25-27 000mark.
I know I'm going to. Be skint either way doing the course because I'm used earning that on 2 days a week at present.
so confusing.
So do I go pt or ft.
would really appreciate any advice / tips x

Tax credits limit has changed from 42k, but not sure what it would be for 3 children.

or even 2 if it stops for your 16 year old. I don't think you would be eligible under the new rules though.

limit for 2 kids is now about 31k AFAIK

Think tax credits limit with one child will be £26k and two children £32k although also don't know how it would change with three children and the possibility of childcare tax credits.

When do you need to make your decision by? The eligibility calculators should get updated very soon when the new tax year starts.

And do either you or your DH have the possibility of childcare vouchers through your work? Not sure on the exact details but you save tax and NI on a certain amount per week. If both your work does them you can save twice I think. I do know you can't use childcare vouchers and claim childcare tax credits.

I have always found the people on the tax credits helpline to be really helpful if I've wanted to play with different scenarios.

If you can wait until April 6th the Turn2Us Benefits Calculator and the HMRC Tax Credit Calculator will both be updated with information for the 2012/13 tax year. The thresholds are going down considerably from April 6th 2012

The Turn2us calculator has been update.You can now get the 2012/13 figures.
HTH

My tax credits just stopped last wk I had no letter no notice they would stop no nothing I earn under 10.000 pound a yr any ideas???? I'm on my own with 2chilsren

Has this happened to anyone else ??i have tried to call them just to get a message saying can't take your call now call back later. Dry frustrating ..

If you earn less than £10,000/year then you will qualify provided you hit the working time threshold of 16 hours per week. HMRC will usually assume that last year's information still applies until you tell them differently. So if your circumstances haven't changed, they should carry them forward. Check your bank account regularly as payments sometimes get delayed. Keep trying with the helpline (they are going to be busy at this time of year) and, in the meantime, send a letter asking for payments to be reinstated, quoting your NI number and stating your annual income, hours worked and number of children etc. to

Tax Credit Office
Preston
PR1 4AT