Can anyone enlighten me on the Childcare Element of Tax Credits.......

[FAQ]

how does it work. Does it (like the actually Tax Credit award) depend on your earnings. What sort of a % of childcare costs does it cover??

Completely clueless, but may soon be needing to claim them........(if we qualify??)

70% of childcare costs but it must be a registered child care provider.
Think it is up to earning £40k a year?

70% - wow that's a lot more than I thought it would be. Is that regardless of whether you're earning 5k a year or 35k a year???

I think so , check entitledto.com

No, I think the earnings limit is quite a bit lower than that and it's household income as well. But the relevant government website does contain a calculator and information about it.

My understanding is that the childcare earnings limit is lower than that for Child Tax Credit, and the amount you get of either does vary according to household earnings. It also depends on hours worked and incapacity/age (over 50).

But the link is here to find out more:

[http://www.taxcredits.inlandrevenue.gov.uk/Qualify/DIQHousehold.aspx]

Sorry

www.taxcredits.inlandrevenue.gov.uk/Qualify/DIQHousehold.aspx

thanks - looks like we would still qualify for the childcare element......We would both be working 37.5hrs a week!

right better get onto some childminders and see what sort of costs I'm looking at.....and borrow a bicycle off a friend so I can "trial" the route I'd be cycling to work and see how knackered I am at the end of it LOL

Its capped quite low on joint earnings, cut off point used to be £25k joint salary but it may have changed slightly with inflation etc.