will working 5 hours a week effect our tax credits?

[cheesesarnie]

ive been offered a job 5 hours a week but will it effect our tax credits?i posted this elsewhere but then saw this topic.

[chelsygirl]

yes you must tell them whatever you earn a bit more

or it'll come back to bite you

[cheesesarnie]

i know i must tell them but do you think itll effect it as in we may lose some?

[chelsygirl]

yes

when ur income goes up your tax credits come down

a few years afo I started working 4 hours a week and this affected my tax credits(not by much)

[CarGirl]

yes your tax credits will go down but the net affect is that your overall income will go up (or should do)

[cheesesarnie]

thankyou- i think i'll phone them to see just how much it will come down.and if i'll get help with chilcare

[chelsygirl]

usually you need to be working 16 hours before u get help with childcare

[cheesesarnie]

thanks-im thinking its bad idea.id be less than £15 a week better off after childcare and its a lot of hassle for £15.

[beautifuldays]

it shouldn't affect your child tax credits too much, but may affect working tax credits if you recieve them. also you won't get help with childcare unless you work more than 16 hours a week and your joint income is under 30k (i think)

[cheesesarnie]

we get both.child and working.joint income would still be under that.tis pants!but just not really worth doing.i can wait a year till ds is in nursery-he'll be 3 so funded.sadly doubt id be offered same job twice.

[beautifuldays]

maybe it's worth it then so that in a year you will be better off iyswim

it sucks tho i know was in a similar position myself and couldn't bring myself to put dd in childcare for 3 days a week to earn (effectively) £20 a month after childcare etc

[cheesesarnie]

did you do it?
i dont think i will as its my last year at home with my baby who will most likely be my last.when he does start nursery it'l be afternoons first so it wont be for a while after that that he starts mornings-job is 9-11.30

[beautifuldays]

no i didn't.

am currently waiting to hear about a saturday job that i had an interview for on thursday. at least with that i won't have to pay childcare.

i know it's hard but go with what you want to do, i'm sure another job will come up at a more convenient time when you can actually earn the money rather than spend it on childcare

[cheesesarnie]

thanks