What support options do we have?

Ivywestpop

Hi all, 
Like many we find ourselves in a very different financial situation than we were in last year, and wondering if anyone is able to help us understand what financial support we may be able to receive?
Quick summary:
- couple with 2 year old daughter 
- I was made redundant in January and now working self employed 2 days per week making 800 per month (did not qualify for the self employed income support scheme)
- Partner is also self employed - qualified for the self employed income support scheme and whilst this is now finishing his business is not able to reopen fully. Due to this he is starting a new venture. Working 3 days but not yet profitable 
- Daughter is starting nursery in September for two half days (turning 3 in October)
- No not qualify for UC due to savings 
Thanks all, any signposting would be much appreciated.

calcotti

You are expected to live off your savings for the time being or until they fall below £16,000 and you can claim UC.

tboo

Ivywestpop said:

Hi all, 
Like many we find ourselves in a very different financial situation than we were in last year, and wondering if anyone is able to help us understand what financial support we may be able to receive?
Quick summary:
- couple with 2 year old daughter 
- I was made redundant in January and now working self employed 2 days per week making 800 per month (did not qualify for the self employed income support scheme)
- Partner is also self employed - qualified for the self employed income support scheme and whilst this is now finishing his business is not able to reopen fully. Due to this he is starting a new venture. Working 3 days but not yet profitable 
- Daughter is starting nursery in September for two half days (turning 3 in October)
- No not qualify for UC due to savings 
Thanks all, any signposting would be much appreciated.

Do you not claim Child Benefit or Child Tax Credits?

calcotti

tboo said: Do you not claim Child Benefit or Child Tax Credits?

Must admit I just assumed Child Benefit to be in place. 

Ivywestpop

Oh yes - we do get CB. But not child tax credits?! Are these through HMRC? Any info on this would be much appreciated. Thank you 

NedS

Ivywestpop said:

Oh yes - we do get CB. But not child tax credits?! Are these through HMRC? Any info on this would be much appreciated. Thank you 

There are no new claims for Tax Credits, so if you are not already claiming you have missed that boat. Tax Credits have been replaced by Universal Credit, which you are unable to claim whilst you have savings over £16,000

Ivywestpop

calcotti said:

You are expected to live off your savings for the time being or until they fall below £16,000 and you can claim UC.

Thank you - yeah we are managing off the self employed income support at the moment, and hopefully this will cover us for a little while longer. 

poppy12345

Ivywestpop said:

calcotti said:

You are expected to live off your savings for the time being or until they fall below £16,000 and you can claim UC.

Thank you - yeah we are managing off the self employed income support at the moment, and hopefully this will cover us for a little while longer. 

Along with your savings of more than £16,000, which you're expected to live off.

Ivywestpop

NedS said:

Ivywestpop said:

Oh yes - we do get CB. But not child tax credits?! Are these through HMRC? Any info on this would be much appreciated. Thank you 

There are no new claims for Tax Credits, so if you are not already claiming you have missed that boat. Tax Credits have been replaced by Universal Credit, which you are unable to claim whilst you have savings over £16,000

Are tax credits and child tax credits the same? Also, is this all the same or different to tax free childcare?! As we are only just starting to use childcare it is all new to us.  

calcotti

Ivywestpop said:

NedS said:

Ivywestpop said:

Oh yes - we do get CB. But not child tax credits?! Are these through HMRC? Any info on this would be much appreciated. Thank you 

There are no new claims for Tax Credits, so if you are not already claiming you have missed that boat. Tax Credits have been replaced by Universal Credit, which you are unable to claim whilst you have savings over £16,000

Are tax credits and child tax credits the same? Also, is this all the same or different to tax free childcare?! As we are only just starting to use childcare it is all new to us.  

Tax Credits are one benefit with two parts, Child Tax Credits and a Working Tax Credits. New claims not allowed. Tax free childcare is different.

Ivywestpop

calcotti said:

Ivywestpop said:

NedS said:

Ivywestpop said:

Oh yes - we do get CB. But not child tax credits?! Are these through HMRC? Any info on this would be much appreciated. Thank you 

There are no new claims for Tax Credits, so if you are not already claiming you have missed that boat. Tax Credits have been replaced by Universal Credit, which you are unable to claim whilst you have savings over £16,000

Are tax credits and child tax credits the same? Also, is this all the same or different to tax free childcare?! As we are only just starting to use childcare it is all new to us.  

Tax Credits are one benefit with two parts, Child Tax Credits and a Working Tax Credits. New claims not allowed. Tax free childcare is different.

Ok, thank you that's helpful. I'll have a look at tax free childcare. Is this something you know more on? Wondering also about the subsidised 15 hours for 2 year olds?!