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To be gutted we're not entitled to any financial help?

(482 Posts)
DeanaPiana Fri 21-Apr-17 13:48:18

Myself and DH have a combined income of £46000.

I have done numerous calculators and apparently, I am not entitled to Child Tax Credits or Working Tax Credits when baby gets here.

A few sources have even said I shouldn't go for Child Benefit as it wouldn't be worth it in tax returns shock

We didn't budget for a baby thinking we would get extra help to finance them etc, but I thought we were entitled to at least a little something and I have to say, I feel gutted. We live in a high cost area, London, and rent here too. We want to move out into a more rural/outer area in the next 2 years max but that just doesn't seem possible now. No way we can afford to save that much. We don't even have a lot of outgoings. Our rent is over 1K a month and that is considerablly cheap here.

Just doesn't seem fair at all sad

Wolfiefan Fri 21-Apr-17 13:49:21

I'm sorry but you didn't budget for a baby as you though you'd get help? hmm

Dishwashersaurous Fri 21-Apr-17 13:50:33

Of course you can get child benefit and until one of you earns more than £60k always worth claiming.

And you only have to do tax return if one of you earns more than £50k.

Dishwashersaurous Fri 21-Apr-17 13:50:43

Of course you can get child benefit and until one of you earns more than £60k always worth claiming.

And you only have to do tax return if one of you earns more than £50k.

Stormtreader Fri 21-Apr-17 13:50:57

Theres no money there to help people who desperately need it, there definitely isnt enough to give to people who want it because theyd like to move somewhere nicer. Sorry.

DeanaPiana Fri 21-Apr-17 13:51:31

We did budget and we will get by Wolfie

I just thought a little something would be ours to put towards small costs, nothing big/too reliant.

The saving for a mortgage rant isn't really relevant as we would find it difficult without baby.

My fertility clock is ticking and I have a lot of conception difficulties. We couldn't put having a baby off.

MilkTwoSugarsThanks Fri 21-Apr-17 13:51:44

DH and I have a combined income of £22K and yes we get "help". Swap?

usernumbernine Fri 21-Apr-17 13:52:07

On £46,000 per year you were deluded to think you'd be entitled to help.

Come on.

Lasvegas Fri 21-Apr-17 13:52:19

Apply for child benefit. You don't get it if one of you earns over 60K and that inc any benefits in kind and bonus's.

even if you did earn over 50K and some of thr child benefit is taken back via tax code. A tax return costs nothing and is simple to do on line.

soapboxqueen Fri 21-Apr-17 13:52:22

You should claim child benefit anyway. If you go over the threshold which starts at 50k claim it at the nil rate.

Floralnomad Fri 21-Apr-17 13:52:43

At a combined income of 46k it's definitely worth getting child benefit .

user1475587233 Fri 21-Apr-17 13:52:47

My heart bleeds for you.

44PumpLane Fri 21-Apr-17 13:52:57

At a combined household income of £46k you are entitled to child benefit.

However if I read your OP properly, you didn't look into a budget for your child as you just assumed that you'd get some sort of financial aid to raise your child?!

Ridiculous!

If you have a baby you have to be prepared to pay to raise the baby. DH and I considered whether we could even afford kids before we decided to have them.

LIZS Fri 21-Apr-17 13:53:14

Presumably you looked into your maternity pay and how you might cover your leave financially. You will get child benefit. Your household income is well above average, why should the state supplement it?

Want2bSupermum Fri 21-Apr-17 13:53:30

Is it worth you moving out of London to lower your income so you qualify? If you can move somewhere with a lower cost of living you would be much better off.

Weareboatsremember Fri 21-Apr-17 13:53:32

Combined income of £46k in London is not a lot, but you really should have thought about this before you decided to have a baby. How will you pay nursery fees when you go back to work after maternity leave? You're definitely still entitled to child benefit unless your dh is earning that £46k on his own, and is also going to be getting a pay rise soon. Not that £20 a week is going to make much of a dent in your outgoings!

WonkoTheSane42 Fri 21-Apr-17 13:53:40

Wolfie, the way she's written it is a little confusing but she means they didn't assume they'd get help when budgeting, not what you've interpreted.

alltouchedout Fri 21-Apr-17 13:53:40

With a combined income of £46k Child Benefit would have no impact whatsoever on tax. It's only when one of you earns in excess of £50k that some of the CB must be repaid via tax.

Have you used current figures for the calculators or have you worked out what your earnings will be during maternity leave and what your childcare expenses will be afterwards and put those figures in?

mayoli Fri 21-Apr-17 13:54:20

£46k with one kid and you're worrying about money? You're over £10k above the average for London, how do people even manage this?

Dishwashersaurous Fri 21-Apr-17 13:54:27

Oh and of course you get free health care and schooling for your child so actually you get loads of 'help'

usernumbernine Fri 21-Apr-17 13:54:33

You earn 3 times what I earn. Catch yourself on. Seriously this has really pissed me off.

totallynewname Fri 21-Apr-17 13:55:02

Well isn't this thread delightfully entitled and insensitive

UndersecretaryofWhimsy Fri 21-Apr-17 13:55:04

I just thought a little something would be ours to put towards small costs, nothing big/too reliant.

I genuinely don't understand this mindset. Why did you think you'd get 'a little something'? The government's not your auntie, it doesn't get you a present because you had a baby.

ProudBadMum Fri 21-Apr-17 13:55:42

Combined we get about £35k. 2 kids and only child benefit as a form of help. We don't need it I don't think though if we had to pay childcare it'd fuck us over.

We are in the north so rents aren't anywhere your rent. I think what we pay up here for a 4 bed is the same as what my daughters dad paid for a room down london!

PoppyFleur Fri 21-Apr-17 13:56:17

OP you will be able to claim child benefit.

Are you and your DH able to get childcare vouchers through your workplace?

Children are expensive but there are ways to cut the cost and a wealth of experience on this site to help.

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