Finances when youngest child turns 16

Maureen43

As said on numerous recent threads (sorry...) I am splitting up from dh.

I have a good idea how my finances will pan out for now - wages, child benefit, tax credits and child maintenance.

However I believe (please correct me if I am wrong) that tax credits and child benefit will stop when my youngest turns 16, and maintenance when he is 18.

That will see my earnings (at current level) drop to just £5500 year. Now, please understand that I will of course be looking for a higher paid, full time job long before then, but I think my total income will still take a massive hit.

How do other people get round this? Are there other benefits to replace these child-related ones? This is yet another worry on my list, albeit one I won't have to prioritise for a few years yet.

I'd be grateful for your advice.

Gillyx

Youl get child benefit until 18 if child is in full time education x

fluffnutter

You can get child benefit up until the child's 20th birthday provided they're in education that counts towards child benefit. This typically means something like A levels, or an approved training scheme, i.e. not university. The child must have been enrolled on the course before the age of 19.

Similar rules apply for child tax credit.

Check out https://www.hmrc.gov.uk and search for child tax credit or child benefit.

gibson123

Start planning for your child/ren to be in to work when leaving education, although many are unemployed at the moment, the majority of young people will in fact go into some sort of paid work, so not only will you not be spending on them, they will also contribute to the household.

cabbage

Ignore the post above. You are making plans for this time, have recently split up - you have enough on your plate. As you can see from the other posters Child Benefit/CTC can continue until the child's 20th birthday in some cases.

The worst that can happen is that your child leaves school at 16 and doesn't enrol in college or get a job. Then you will lose child benefit and child tax credit and s/he won't be able to get JSA and you still have to feed and clothe him. Hopefully the maintenance will help if this happens.

Good luck to you and re post if you have any more questions.

Blackpool_Saver

Scary isn't it, being on your own, I know only too well, my son's Dad has done nothing and neither has my family, it's all been on me, ignore the nasty posters and keep coming back for help.

January20

Maureen43 wrote: »

I thought I made it clear I was planning to do whatever was necessary in terms of paid employment to support myself?

Just ignore posters like that. Evidently they can't read, and only want to write nasty things!

As a nearly full-time working mother, I got child benefit and child tax credit, as well as maintenance through the csa until my dd left full time education. She was nearly 19 by then. But like you are planning to do, I had increased my working hours and therefore my salary as she grew older and more independent, so was getting very little ctc in the end.

It was a relief actually to cut that link to her father as he so resented having to pay that maintenance!

Jinx

cabbage wrote: »

The worst that can happen is that your child leaves school at 16 and doesn't enrol in college or get a job. Then you will lose child benefit and child tax credit and s/he won't be able to get JSA and you still have to feed and clothe him. Hopefully the maintenance will help if this happens.

If you are not receiving child benefit you are not entitled to maintenance money, they are linked. (I only know this as my daughter went to college at 16 and it was higher education so I wasnt entitled to child ben and therefore not maintenance either - shocking!)

Blackpool_Saver

Jinx wrote: »

If you are not receiving child benefit you are not entitled to maintenance money, they are linked. (I only know this as my daughter went to college at 16 and it was higher education so I wasnt entitled to child ben and therefore not maintenance either - shocking!)

your daughter went to level 4 education at 16 ?? she must be very clever, did she do her GCSE's at 15?

Dunroamin

Blackpool_Saver wrote: »

your daughter went to level 4 education at 16 ?? she must be very clever, did she do her GCSE's at 15?

They do things differently in Scotland.;)

Gillyx

I'm from Scotland, and my Dad's girlfriend was receiving maintenance for her daughter, until she graduated, (that could have been a private agreement though?)