Maternity benefits - any experts?

ruthiebee

Hi there

I am newly pregnant and wondering what maternity benefits I will be entitled to.

I work full time (35 hrs, employed) and my partner is full time, 40hrs ish, self-employed.

I earn around £31k and my partner's last submitted self assessment was for around £28k I think.

On maternity leave I will only be entitled to SMP from work, and I'll also get child benefit. This is clearly a massive drop - and despite what some might think we don't have masses of savings in the bank, as we have been busy paying our own way in life and we don't have disposable income at the end of the month!!

Does anyone know if I will I be entitled to child tax credits / working tax credits when on maternity leave?

We've never claimed benefits for anything at all, so I have no idea how all this works.

flea72

With your OHs income you wont be entitled to any ctc/wtc

ruthiebee

Thanks flea72 - I feared as much. That sucks.

lippy1923

I will be in the same situation as you shortly. You say you are newly pregnant so have a good few paydays left to save up some emergency funds, if you can make cutbacks.

Try and work out how long you are taking as mat leave and how much you need to save by then. Obviously do a money makeover, reduce DD's that are not needed and shop around for insurances etc.

Also try living on 1 persons salary + about £500 if you can so you know what it's going to be like.

ruthiebee

Thanks lippy1923

Congratulations and good luck for December :0)

Yes, that's what we're going to try to do. I've been doing that to a lesser extent for well over a year whilst we saved for our deposit. Will just have to be stricter!

Shame we can't tell the taxman to only tax and NI us on the bit we're 'paying' ourselves! ;0)