Can I afford to take this job? Urgent help needed.

[tryingtobeobjective]

Interview Monday. Job is 28 hours a week. Pay up to max 17,000. I've a 3.4 year old and 22 month old. Currently SAHM with DH earning 31,000.

So - new outgoings would be nursery/childminder fees and commute costs.

3 year old gets 15 free hours so if in nursery 4 days a week that would pay 1.5 days?

Local nursery is £44 per day. So £176 a week for younger child and £110 a week for older if 15 hours taken off as 1.5 days.

Total then £286 nursery costs per week. Take home from 17,000 is £270 per week. Then the commute costs.

And worst of all, we would lose our child tax credit. Another £20 a week.

What else is there for me to consider?

I know childcare vouchers can be used to help but would they make enough of a difference with a loss of £16(care) £20 (car) £20 (tax credit) = £56 per week.

We cant afford to lose that.

You need to think about the long term though. In a year or so, your eldest will be in school, which cuts childcare costs. Then the younger one will get the 15 free hours. If the job is a good one then look on it as a long term investment and it won't actually be a problem if in the short term you aren't turning a profit

Is the pay pro-rata, if that is the case you will have to factor not earning the 17k, also if it is max 17k they might not pay this at the start - i always factor a 30% tax and national insurance on a job which is acutally leaving 230 on 17K.

Saying that, if the job has progression it may well be worth it, or if it gives you experience in your field to move onto better then it coudl be worth it

That's the trouble, it is a contract for 8 months (not a maternity cover though) so maybe it would continue but no guarantee. I was thinking longterm gain but I don't think we can take the hit in our current financial state (overdraft).

Right. Back to the HMRC calculators.

So a couple with 2 children earning over 32,200 will no longer get child tax credits.

But they might if they pay for approved childcare?

The HMRC calculator will only tell me up to April 2012 so I'm struggling to know if we would get any help after April if we earn 31,000+17,000 and pay 286 childcare??? Anyone know?

Any other online calculators I could use apart from the HMRC one?

Google for "better off calculator" - it's not clear whether tax credits or childcare vouchers would mean you're better off.