tax credits and childcare vouchers

[ladylush]

Maybe a bit premature as baby not due for another 3 months but wondered if anyone has any advice wrt tax credits and childcare vouchers.

I haven't claimed tax credits before as dh and I were earning just over the threshold. However, I am now told that with another dc we may be entitled to something.

I didn't claim childcare vouchers before as I didn't want my pension to be adversely affected (NHS pension). However, the childcare coordinator said it is unlikely to make much difference to my pension because I will be working for many years beyond when I'll be claiming. I think it would make quite a difference to our income - which will be much reduced as I'll be going from 5 days to 3.

Whichever route you take, make sure that you dont claim both on the same amount.

What does that mean HappyMumofOne?

For eg if your childcare is £200 a week and you get £160 from tax credits, you cant then pay with childcare voucher scheme on the same £160.

It usually works out better financially if you can claim tax credits help with childcare (its capped based on salary though so a lot of couples where they both work dont qualify). For those that dont qualify, the vouchers can save them money and both can claim if both employers have schemes.

Oh I see. Thanks for that

dunno about child tax credits as we're above threshold - but with regards to childcare vouchers - its a v short period of time work wise where you'd be claiming the full whack, so very unlikely to affect your final pension.

Thanks Ramon I wish I hadn't been ill-advised when pg with ds. We really struggled when I went back to work. I'll be doing 3 days a week so childcare will be around £135 a week, though I'm told I can claim for afterschool club for ds as well which is an extra £30-£40 per week.

I mean ramona - that'll serve me right for shortening a nickname

lots of people think ramon - I think hairy guy with funny accent.......that's not me!

I have more of an image of a handsome and mysterious Spanish man. Shame that's not you