Will employment changes make us better off

Overworkedandunderpaid

Hi all
Sorry I am new to this forum stuff, but fed up trying to find the answer I want on the government website.
I work 20 hours a week, earning £17k a year. My husband is self employed, working 40 hours a week earning £16k a year. We have a 6 year old and a 4 year old, both at school.
I may have the opportunity to go full time, 37.5 hours a week, earning £31.5k a year. My husband would then give up work and become a stay at home dad.
I cant figure out if our benefits will be better or worse with only one of us working.
At the moment we get around £200 every 4 weeks. The government calculator states we aren't entitled to anything!
Any help or guidance would be greatly received
Thanks

Overworkedandunderpaid

Only tax credits. We wouldn't be looking to claim unemployment or anything like that.

xylophone

Presumably your husband would then receive the CB in his name?

https://www.gov.uk/child-benefit/what-youll-get

Will you be paying into a pension? This could possibly increase your tax credits?

dktreesea

Long term, I don't see this as a wise strategy, OP. At the moment, your husband would be paying class 2 NICs, which count towards his pension years. If he becomes a stay at home Dad, doesn't this mean he then wouldn't be able to count those years towards his pension entitlement?


Could your husband reduce his hours, to say just the times when the children are in school? He would have a lower income, but at least he would be keeping his hand in for his pensiom/ I know the pension seems a long way off for most people, but believe me when I say it is no fun being in your 50s and faced with working well past 65 because your pension entitlement is only going to be £70 a week by the time you retire.

Spendless

A the minute you have a family income of £33k and you are proposing to change that to £31.5K. I'd have thought it minimal how much your tax credits would change compared to having £1500 a year more and 2 tax allowances.

What about both working full time? That would give a fab family income of £47,500 and would mean that if the Government of the day decide to change the rules once more you are not dependant of any income they give that they can also take away.