Help, please!

Herts_Iron

Hi all,

I was wondering if any of you could give me some advise as to what we may be entitled to claim for. I have started to look on the internet, but its all so confusing I was hoping to get some easy and sound advise from those who know what they are talking about!!

We recently had our first child, 7 weeks ago infact. We have sent off the form for child benefit, so thats all sorted. Our current situation is:
My wife is currently on Maternity leave. She has an annual salary of £23,500. She gets paid a full wage up until August, when it will go down to half pay. Then in October she will get the statutory maternity pay.
I have an annual wage of £25,000.
So, we have a combined annual household income of approx. £48,500. But this will dramatically decrese in the next few months.

So, any advise?!?

relic

Once the decrease in pay goes through, then I would look at applying for IS, CTC and so-on. On your salaries right now you won't be entitled to much, if anything.

AimeesMum_2

As you are earning £25,000 you would not qualify for income support at any time. Your wifes SMP are almost double the rate for claiming income support.

You may when your wife's salary goes down be entitled to a little more tax credits but this is usually based on last years income so you would need to call when your income and give them the estimated income for the year (baring in mind that when your wife is on SMP that the first £100 of earnings aren't declared for tax credit purposes).

Caz3121

relic wrote: »

Once the decrease in pay goes through, then I would look at applying for IS, CTC and so-on. On your salaries right now you won't be entitled to much, if anything.

IS won't come into it.

OP, you will need to calculate the complete annual income for Apr 11 - Apr 12 and that is the figure you can use for child tax credits although that may still put you over the threshold for payment and if you do qualify it will be £10 per week

slkh

It maybe worthwhile going onto hmrc's website and doing a tax credit calculation on there using various circumstances, for example your combined wage now and your combined wage once your wife moves onto smp. On your salary alone you would be entitled to child tax credit in addition to the child benefit, not sure on the working tax credit's as this has recently changed. You may also want to consider child care costs once your wife goes back to work if that is the plan.

kerryallc71

hi , another good tax credit calculator to use .

https://www.turn2us.entitledto.co.uk/entitlementcalculator.aspx?AspxAutoDetectCookieSupport=1

all about child tax credits etc and other benefits ..

http://www.hmrc.gov.uk/taxcredits/

hope these help ..

kerryallc71

direct.gov website .. guide to the benefit system .

http://www.direct.gov.uk/en/MoneyTaxAndBenefits/index.htm

Herts_Iron

Thank you everyone, very helpful. There's a mountain of stuff to understand isn't there, that's what makes it so confusing.

How about maternity allowance? Someone told me my wife would be entitled to this even though she is currently earning a full wage? Didn't seem right to me, but we have never claimed for any benefits, so I know nothing!

slkh

Herts_Iron wrote: »

Thank you everyone, very helpful. There's a mountain of stuff to understand isn't there, that's what makes it so confusing.

How about maternity allowance? Someone told me my wife would be entitled to this even though she is currently earning a full wage? Didn't seem right to me, but we have never claimed for any benefits, so I know nothing!

No, you can only claim maternity allowance if your not entitled to maternity pay from your employer