mat leave

clear_as_mud

Sorry if this has been asked before, but getting really fuzzled in the head with all this.

What would I be entitled to when I go on mat leave next year. My OH will be still working full time earning about £1200pm. Not renting, have a mortgage though.

I will get 6 weeks 90% of my pay then £136ish a week on stat mat pay. I think this is subject to 20% tax so a little less. Is this everything I can get?

Just want to know so I can budget and save up for a while before I go and make sure my mortgage and bills will get paid.

Although others think I am mad to save up because "you will get !!!!!! all from the state" they keep telling me. It shocks them that I don't want to have to depend on tax payers and they cannot see why I would want to be prepared with my own money.

Anyone have any idea what I should be factoring in when budgeting? Thanks a lot.

Kayalana99

My OH earns about £900 net/4 weekly (is that £1200 gross?)

You'll get the £80 a month child benefit once baby is here(unless your joint wage was over 60k I belive then I don't know how it works you may still get it Idk) ...then maybe some tax credits depending on how much you earnt April-March this year (assuming your mat leave starts after april) so it might not be alot to be honest.

Kayalana99

Oh and you can earn 10k a year without being taxed, so you will most likey find you don't pay 20% tax on your mat pay unless you earned alot that year through your job

clear_as_mud

O yes I forgot about child benefit. Will add that to my budget.

I'm starting my mat leave in Feb next year and have made more than £10k this financial year. So does that mean in April I will not get taxed on my stat mat pay? If I take the full year until Feb 2015 then for that tax year I will have not made anywhere near £10k. Not sure how it all works tbh. No matter how many times I read HMRC websites. Each page I click on I get conflicting info and just confuse myself more.

Lol I would love if our joint wages were over £60k but sadly not yet.

Kayalana99

Yea you should get taxed feb/march then come april you shouldn't be paying tax.

Tax credits would complety depend on your joint wage april-march 14 but with your partner earning quite a high wage I doubt you'll be entitled to anything but child benifit + a small amount of tax credits perhaps.

clear_as_mud

Thank you Kayalana99. Much appreciated.

paddedjohn

For income tax purposes your income is averaged out over 52 weeks so you can earn upto £180 per week before you are taxed.

antonia86

You should be eligible for child tax credit/working tax credit too. Maybe not a great deal but it all helps!