Posted: Sun Dec 02, 2012 10:38 pm
Post subject: childcare costs
Wondered if anyone could give me any advice, my maternity leave ends soon and I've arranged with my employer that I'll go back to work 3 days a week, so I'll be earning roughly £600.00 a month, my OH works fulltime and earns roughly £25,000 a year. Will we be entitled to anything to help us with nursery costs?! As Im really starting to consider whether its worthwhile going back,as most of my wages will be paying childcare!
Posted: Thu Dec 06, 2012 7:46 am
If you go to www.entitled2.com it has a calculator and you put in your income and expected childcare costs and it will work out what you might be able to get.
The current threshold for tax credits is around £24K a year, so if you didnt work, you probably wouldnt get any benefits other then Child benefit at just over £20 a week.
It may be worth taking that into account, as even if you are paying out half of your wages in childcare thats still an extra £300 a month more then you not working.
Another option is childcare vouchers through work.