I am having a complete nightmare with tax credits.
I rang them ages ago and said I was looking for a job. I asked what they would pay on different salaries.
They told me it didn't matter what I earnt, as it would be calculated on dp's wages from last year.
Childcare costs for me working will be £210 every week
They told me I would keep my existing child tax credit award as it would not increase our household income by more than £25k
They said I would then get help of £147 pw childcare element
We have been overpaid, so they have reduced our Child tax credit. I can still keep this reduced amount when I am working. Fair enough I thought, I will use what is left of my CTC to make up the shortfall in childcare costs, and use some of my wages as well.
Today they have said that both of us working will take us over £31k pa so I will only get £10.74 pw CTC and £100 towards childcare.
As I will be paying back £13.19 pw for the overpayment, I will be in minus figures for CTC, and I would have to pay out more from my wages, leaving me with virtually nothing.
If I go for a slightly higher paid job, taking us to £34k pa, I will only get £89pw for childcare and £10.74 for CTC. Again, I would actually get less because of the overpayment.
Does anyone know if this is the right amount on £31k and £34k??
Their website is wrong, entitled to is wrong, citizens advice can't work it out, my ready reckoner from another website says: £66.34 pw towards childcare and £39.59 CTC - total of £105.93.
If this is right, then I will be working for nothing and we will be worse off. I thought they would cover most of it and I would use the CTC to pay the rest, leaving my wages to live on and pay off our debts.
If these figures are right, am I better off trying to get a higher paid job and getting no help with childcare, or sticking with low paid ones and hoping they will give me the said amounts??
Please someone, help quick, I am really stressed and upset over this.
TIA