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childcare money from working tax credits

110 replies

LAURACOLLEY · 03/05/2008 16:14

I'm currently at university and am due to finish at the end of june 2009. I have a 2 year old who attends nursery full time on week days. I have earned zero last tax year (07 - 08) and will probably earn zaero this tax year (08 - 09). My partner earned 18750 before deductions last year (07 - 08). Last year we were entitled to about £2000 worth of child tax credits but no working tax credits. My partner is predicted to earn about 19200 before deductions this year (08 09). It is the LEA and the university that pay 100% of my sons nursery costs at the moment but all this will stop at the end of June 2009. This childcare costs are £573.75 a calendar month (132.40 a week) and this is all weeks or months of the year. The question is is how much can myself and my partner earn this year (08 - 09) to be eligable for the working tax credits again and the 80% of the childcare costs next year (09 - 10) if from June 2009 I was working 16 hours a week. And then does anyone know or can predict how much we can earn next year (09 - 10) and not have to pay any of the childcare payments back and still get some for the following (10 - 11) tax year. After that my little lad will be at school. I thought I'd better ask about the following year becuase I'll take a 16 hours a week job back on the checkouts or something until find a degree related job. This I hope will then put me on about £18000 or £20000 a year. It's just that how am I going to search for work and attend interviews up and down the UK with no childcare paid for? There's no way we will be able to fund a nursery place on my partners wages alone.

OP posts:
LAURACOLLEY · 03/05/2008 22:58

well yes oh course the money will go down but I won't need it as we will have the free hours.

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KatyMac · 03/05/2008 23:00

Reduce yours & partners food costs
Get him to get the bus to work & sell the car
Sell the house and rent or if already renting, rent a smaller one
Buy second hand clothes
Get an evening job

here is nearly always a way around

WallOfSilence · 03/05/2008 23:00

Just out of interest, how did you manage to get c/care paid for?

When I & my friends enquired about it we were told we had to be working 16hrs alongside studying!!

WallOfSilence · 03/05/2008 23:00

TBH the money situ isn't going to get better if you do a masters, probably worse!!

KatyMac · 03/05/2008 23:01

What do you pay £3.30 an hour?

If it's that your childcare wil go down by £30 a week

LAURACOLLEY · 03/05/2008 23:04

we spend little on food anyway

he can't get the bus to work as he drives the buses so needs the car to get there to drive the first bus out in the morning

we already rent a flat in a halls of residence where the bills and council tax are included in the cost so can#'t reduce costs here

i haven't had any new clothes for a good 4 - 5 years

as my partner works lates and earlies different weeks I can't get a evening job + as soon as my son goes to bed I'm studying anyway

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LAURACOLLEY · 03/05/2008 23:05

if I do a masters I should get a 12 grand grant

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LAURACOLLEY · 03/05/2008 23:06

the LEA give me 85% of the childcare and the university hardship fund the remaining 15%

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KatyMac · 03/05/2008 23:07

Where does the 18K go then?

I run a car, a mortgage, have new clothes & holidays on about £20 (with virtually no credit)

WallOfSilence · 03/05/2008 23:09

I don't think you realise how lucky are Laura.

You choose to do the degree, no-one made you.

I'm in the same boat, no-one made me struggle for 3 years to finish my degree whilst we had left overs & second hand clothes. The difference is I didn't expect anyone else to pay for me to do my degree.

Washersaurus · 03/05/2008 23:09

I think you are already better off than me anyway. I have a law degree and can't afford to continue with studies or get a job that pays enough to cover my childcare costs. That is why I am currently a SAHM.

LAURACOLLEY · 03/05/2008 23:13

annual for a family of three -

it £14000 once the deductions have been removed.

£6500 for the rent and bills which is a set amount

£1800 for the car (explained why we need it above)

£1000 for mobiles (we don't have a landline so think these are essentail)

£1300 on petrol

£2600 on food shopping

which leaves £800 for car tax, MOT, servicing, uni books and birthday and christmas cards and presents. (I don't spend much at all for birthdays and christmas)

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LAURACOLLEY · 03/05/2008 23:15

well if I put the hours in at home, studying and with my family then don't we deserve to do well for ourselves?

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KatyMac · 03/05/2008 23:17

Absolutely but don't expect the state (ie my taxes) to pay for it

KatyMac · 03/05/2008 23:19

TBH I would give my eye teeth to study for my degree but I have to work to support my family

To study I would have to sell my house, give up my car, my DD would have to change school and give up her OOS activities and I would give up my job and try to get evening work

I have chosen not to do this at the moment

Washersaurus · 03/05/2008 23:20

I studied part time in the evenings over 4 years whilst working full-time. I paid for it all myself.

It is sad that I can't use my degree at the moment, but I chose to have children.

Why not sell the car and get a moped or a bike? Shop in Lidl?

LAURACOLLEY · 03/05/2008 23:20

the taxes aren't my responsibility. i would prefer to get a job than study but don't want to go into a dead end unforfilling job so have to study

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WallOfSilence · 03/05/2008 23:22

We all deserve to do well for ourselves.

The difference being that we don't expect our taxes to pay for you to stay at university!!

I still can't figure out how you get 85% funded by the LEA especially when dh wasn't earning anywhere near what your dh is earning.

Or is the fact that you have a partner and not a dh that makes a difference? Making you, in effect, classed a single parent?

KatyMac · 03/05/2008 23:23

'dead end unfulfilling' jobs can have their advantages

University isn't always a choice you can make

The taxes aren't an issue except you want me to pay your childcare while you look for the perfect job.......

WallOfSilence · 03/05/2008 23:23

Taxes aren't your responsibility... nice.

They will some day, when you get your degree related job.

LAURACOLLEY · 03/05/2008 23:23

lidl i've found is no cheaper than morrisons if you go round the bargains at the end of the day.

if degrees are nothing these days then I might end up studying for a doctorate and become a lecturer

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WallOfSilence · 03/05/2008 23:25

Lecturers would need to know how to spell 'unfulfilling' Best get the dictionary out in your spare time

LAURACOLLEY · 03/05/2008 23:26

i get 85% from the lea because i'm classed as single in their eyes. To be depended on partner we have to be either married or over 25 years old

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LAURACOLLEY · 03/05/2008 23:28

i don't need to be able to spell, just to press f7

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Washersaurus · 03/05/2008 23:29

I suppose it depends on what you are buying - I find fresh fruit and veg much cheaper in Lidl. It makes a real difference to our food budget. We also don't eat much meat - that reduces food costs.

Good luck with whatever you decide to do, I'm sure it CAN be done! Just don't expect a magical pot of cash to appear to help you to pursue your dreams