First baby - What is what?

Oneday77

I maybe on the wrong board so please point me in the right direction if i am. My wife is expecting our first baby in May next year. For us to plan ahead I have tried using different benefits calculators but they all assume your income is as now and the baby is born.
My wife is the major earner between us, £40k to my £26k. Using our current income we're due nothing that I can tell. If she takes full maternity where does that leave us? The hard calculator said £186 if she only has SMP but it doesn't say if its weekly or monthly or annually lol.
I can work out pay, tax, NI, pensions etc but benefits I'm lost.

Once she goes back to work we don't expect any benefits to stay but how to budget until the is the problem.

Fiver29

On your £26k alone I don't think you'd be entitled to a lot perhaps about £500 a year in CTC and CB. But with maternity pay added on that might wipe out the CTC.

Oneday77

Fiver29 wrote: »

On your £26k alone I don't think you'd be entitled to a lot perhaps about £500 a year in CTC and CB. But with maternity pay added on that might wipe out the CTC.

Thanks we weren't expecting much. But we wanted to make sure we get what's due and kno what's ahead.

xylophone

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

paddedjohn

As the higher earner, your wife could go back to work after 20 weeks and you could take upto 26 weeks paid paternity leave.