Arrival of 1st child in Dec what can I claim?

plumajp

I am in full time employment and earn 23k a year with overtime roughly at 9k a year (overtime to decrease in the new financial year to around 7k). I pay into employers pension scheme and have never claimed any benefit of any kind.

My wife is also in full time employment, earns 13k a year and pays into pension scheme, she has never claimed any benefits.

Our first child is due in december and I would like to know what if anything I could claim to hopefully make up for the shortfall of her wages once my wife takes maternity leave. im doing it this early as i like to have it planned before my world is turned upside down and i dont have time to research this.

My wife is looking to taking 9 months off work, some of that is the employers gradually decresing materinity pay / leave and the last third roughly is statutory maternity pay/leave. I would like her not to return to work (if affordable), until our child is old enough to go to nursery. however we have not discussed this yet, she thinks she has to go back to work as soon as she can so we can afford to live.

What am I entitled to?

I have gone through the direct.gov calculator and it showed we could be entitled to some benefits but when I went through each benefit and typed in our wages etc it siad "no".

What has changed since i went through the direct gov questionaire is the option of my wife staying off work to raise our child until a nursery age.

I have tried the MSE benefit guide but it ask for child tax credit info etc and i have not applied or do not know anything about these yet.

There are 2 scenarios to my story, my wife having the 9 months off and going back to work part time to save on full time child care costs (benfits available during her time off and on return to work) AND....

my wife not returning to work for roughly 1 year ish. (whether the employer can keep her job open I don't know yet)

I really appreciate your repsonses and guidance in this matter. I'm a complete novice at this stuff and haven't a clue what we could be entitled to.

Thanks in advance.

DomRavioli

On 30k per year income (which is just yours) and one child, you would get child benefit only. If your wife works, and earns more than £5,000 per annum, currently you wouldn't get child tax credit if your wife worked and your child was in childcare (anything over 35k for one child means you get nothing but your child has to be in childcare.)

Perhaps look at HMRC for the full definitions, but you earn far too much to be able to claim any means-tested benefits.

skintandscared_2

I'm sorry, but if your child is due in a month's time your financial planning now is not in the least bit "early". It should have been done months ago. Aside from child benefit and possibly child tax credits (if you qualify), the taxpayers do not subsidise your choice for your wife to be a stay at home mum. If you can afford it, you do it. If not, your wife returns to work. Lots of mums would love the opportunity to not return to work but they have no choice. A new addition to the family can often mean a radical look at your outgoings. Maybe take a look at your monthly budget and see if there are things you could cut back on if it means your wife gets to stay home longer with your child.