When you start to raise your Grandchildren if you are working you might need to give up work to look after them. This of course can cause major financial worries but help is available. We are quite lucky as I am self-employed and my husband isn’t working due to illness. I can work around the children when necessary so it works quite well for us. This is a very basic guide to the benefits you may be entitled to:
Child Benefit: This is a tax-free payment unless you or your partner have an individual income of more than £50,000. You can claim child benefit for each child that you are responsible for whether they are ‘your’ children or not. The current Child Benefit weekly rates are £20.30 for the first/eldest child and £13.40 for each other child.
Child Tax Credits: This is paid to you if you are responsible for at least one child or young person who normally lives with you. You don’t have to be working to claim Child Tax Credit.
Working Tax Credits: This is based on the hours you work and get paid for, or expect to be paid for. You can claim whether you’re an employee or a self-employed person. But unpaid work doesn’t count for Working Tax Credit.
Childcare & Tax Credits: You could get extra tax credits to help pay for some of your childcare costs while you’re working. You must work at least 16 hours a week. Couples usually have to work at least 16 hours a week each.
There are more payments available such as guardians allowance but I would advise contacting your local benefits office for details as these vary across the country.