Context: Jay and Kay are a couple with two young children, Mae, aged 9 months and Faye, aged 2. Kay has been on maternit

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Context: Jay and Kay are a couple with
two young children, Mae, aged 9 months and Faye, aged 2. Kay has
been on maternity leave and is due to go back to work full time in
the local library. Jay is employed full time in a clay workshop.
Both parents are in their mid-thirties and live in Grays, Essex.
They are looking into arranging childcare once Kay starts work
again.
Both children could attend a local nursery full time nearby from
Monday to Friday, at a cost of £528 per week for both. Kay also
receives child benefit, equating to £1,827.80 per year.
2.3 If Jay decides to take the part-time
option, this would reduce his net annual income to £9,264. Kay
would continue to receive her full-time earnings, which equate to
£17,534.16 per year after tax and National Insurance contributions.
Mae and Faye would then only attend nursery on a part-time basis at
a cost of £264 per week for both of them.
Using the Tax credit calculator where
appropriate, calculate the couple’s total tax credit entitlement
and their net household income after childcare
costs. (4 marks)