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Parent to be
beer_tins
Posts: 1,677 Forumite
Hi all,
I'm due to become a Dad in October, so I thought it's time to work out what will happen financially. I'd be grateful for some opinions and to be pointed in the right direction.
I understand child benefit is £20 a week (first child), so that's fine.
My wife will be on Statutory maternity pay. I believe her company pays 100% for the first 6 weeks and she'll get £123.06 for the following 39 weeks.
I will take statutory paternity leave for the first 2 weeks. My company pay 100% for the first week, second week will be £123.06 (statutory).
I earn a decent salary, but am not a higher rate tax payer. I'm not sure how to work out if we qualify for Child tax credits.
And is there anything else to consider? I know about the child trust fund and I will of course apply for my child.
I'm not sure if we qualify for working tax credits once my wife is on statutory maternity pay? We would still have an above average family income, so I'd assume not.
Any help is much appreciated!
I'm due to become a Dad in October, so I thought it's time to work out what will happen financially. I'd be grateful for some opinions and to be pointed in the right direction.
I understand child benefit is £20 a week (first child), so that's fine.
My wife will be on Statutory maternity pay. I believe her company pays 100% for the first 6 weeks and she'll get £123.06 for the following 39 weeks.
I will take statutory paternity leave for the first 2 weeks. My company pay 100% for the first week, second week will be £123.06 (statutory).
I earn a decent salary, but am not a higher rate tax payer. I'm not sure how to work out if we qualify for Child tax credits.
And is there anything else to consider? I know about the child trust fund and I will of course apply for my child.
I'm not sure if we qualify for working tax credits once my wife is on statutory maternity pay? We would still have an above average family income, so I'd assume not.
Any help is much appreciated!
Running Club targets 2010
5KM - 21:00 21:55 (59.19%)
10KM - 44:00 --:-- (0%)
Half-Marathon - 1:45:00 HIT! 1:43:08 (57.84%)
Marathon - 3:45:00 --:-- (0%)
0
Comments
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You'd be better posting this in the main benefits section not child support
Yo are more likely to get advice there:beer: I've paid the CSA off and stopped them taking payments:beer:
I'm stillowed some arrears by my ex :mad:
I was a NRP, now I'm a PWC, partner of a PWC, and parent of a PWC ( and very confused at times )0 -
Oh OK, sorry. Please ignore this post, everyone!
re-posted here: http://forums.moneysavingexpert.com/showthread.html?p=31089725#post31089725Running Club targets 20105KM - 21:00 21:55 (59.19%)10KM - 44:00 --:-- (0%)Half-Marathon - 1:45:00 HIT! 1:43:08 (57.84%)Marathon - 3:45:00 --:-- (0%)0
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