Unsure what we are entitled to......

razor1980

Hi all.. Can anyone help us out. We are a working couple who are thinking of having a child at the end of the year but are unsure we can manage financially.. We both work full time and earn 21k and 21k but we both have overtime and bonuses at 14k and 6k so all in all on average we earn around 62k per year. We would like my partner to have the first 12 months with our child. She gets paid 3 months maternity pay at 90% of her average pay and it then reverts to statuatory maternity pay which is £117 per week. Obviously this is a big drop and we would like to know just what we would be entitled to.. CAN ANYONE HELP US???:j

[Deleted User]

With that level of income i would imagine £10 per week ctc and £20 child benefit.

PhlangePhace

woodbine wrote: »

With that level of income i would imagine £10 per week ctc and £20 child benefit.

Isn't CTC effectively doubled for the littl'un until he/she is 12mths old ?

i.e. £20 CTC, £20 CB for that crucial first 12mths ?

Loopy_Girl

Am assuming you mean you are thinking of trying for a baby at the end of the year as to have one would mean she would need to be pregnant now!!;)

Agree with others. You will get £20pw ctc for the first 12 months of the baby's life and then that will drop to £10pw.

You will also get the £20pw Child Benefit.

You are right, it would be a big drop in wage for you both when she was on maternity leave.....suggest you get baby making practice in and start squirrelling money away!

Good luck

[Deleted User]

PhlangePhace wrote: »

Isn't CTC effectively doubled for the littl'un until he/she is 12mths old ?

i.e. £20 CTC, £20 CB for that crucial first 12mths ?

AFAIK its paid at an additional rate of £10(per week) for the first 12 months,and looking at the income figures for OP unlikely to qualify further

Loopy_Girl

According to this they would be entitled to the £1090 for the first year and then the £545 thereafter as they are under the threshold

http://www.moneyformums.co.uk/benefits/Childtaxcredits/tabid/94/Default.aspx?_$ja=kw:child+tax+credit|cgn:Child+Tax+Credit|cgid:758920797|tsid:6946|cn:M4M+-+Child+Tax+Credit|cid:30426867|lid:12835471|mt:Broad|nw:search|crid:2118510747

If the Mum goes back to work full time though then they would be over the threshold as the baby would be over 12 months old.