UK Becoming a Parent Financial Checklist 2026/27
New parent money checklist 2026/27: SMP, SPP, ShPP and SAP at £194.32 a week, Child Benefit and HICBC, Tax-Free Childcare, free hours, wills.
Money checklist for new UK parents in 2026/27: statutory maternity, paternity, shared parental and adoption pay, Child Benefit and the High Income Child Benefit Charge, childcare help, and updating your will and insurance. Statutory pay and Child Benefit are UK-wide; the free childcare hours described are England's scheme.
Before the birth and the first months
- Tell your employer you are pregnant by the 15th week before the baby is due
- Get the MATB1 certificate from your midwife or GP (issued from 20 weeks before the due date)
- Check your Statutory Maternity Pay or Maternity Allowance entitlement with HR
- Ask your midwife or GP to apply for a maternity exemption certificate for free NHS prescriptions (England)
- Apply for Healthy Start, or Best Start Foods in Scotland, if you get qualifying benefits
- Plan your return-to-work date and childcare
- Register the birth: within 42 days in England, Wales and Northern Ireland, 21 days in Scotland
- Claim Child Benefit (it can only be backdated 3 months)
- Update your will, life insurance and pension nominations
- Open a Junior ISA if you plan to save for your child
Statutory Maternity, Paternity, Shared Parental and Adoption Pay 2026/27
| Scheme | Duration | Rate 2026/27 |
|---|---|---|
| SMP (Maternity) | 6 weeks + 33 weeks | 90% of AWE; then the lower of £194.32 or 90% of AWE |
| SPP (Paternity) | 1 or 2 weeks | The lower of £194.32 a week or 90% of AWE |
| ShPP (Shared) | Up to 37 weeks | The lower of £194.32 a week or 90% of AWE |
| SAP (Adoption) | 6 weeks + 33 weeks | Same structure as SMP |
Child Benefit and the HICBC
Child Benefit 2026/27: £27.05 a week for the eldest child and £17.90 for each other child.
The High Income Child Benefit Charge takes back 1% for every £200 of adjusted net income above £60,000, all of it at £80,000. Claim Child Benefit even if the charge would take it all: the claimant gets National Insurance credits towards the State Pension while the child is under 12.
You can claim and then choose not to be paid, which avoids the charge and keeps the credits.
Childcare schemes compared
| Scheme | Eligibility | Value |
|---|---|---|
| Tax-Free Childcare (UK-wide) | Working parents, each expecting at least £2,643.68 over 3 months (21+) and adjusted net income no more than £100,000 | 20% top-up, up to £2,000 a year per child (£4,000 if disabled) |
| Free Childcare for Working Parents (England) | Same income rules | 30 hours a week for 38 weeks, ages 9 months to 4 years |
| 15 hours for 3 and 4-year-olds (England) | All 3 and 4-year-olds | 570 hours a year, usually 15 hours a week for 38 weeks |
| Universal Credit childcare costs | UC claimants who are working | Up to 85% of costs, maximum £1,071.09 a month for 1 child or £1,836.16 for 2 or more |
Will and insurance after the baby
- Will: appoint a guardian, set up a trust for what your child inherits, name executors
- Life insurance: term cover sized to your mortgage and the years your child will depend on you
- Income protection: pays part of your income if illness stops you working
- Pension nominations: update who should receive your pension
- Death-in-service nominations through your employer
Junior ISA for child savings
- Up to £9,000 a year per child, separate from your own £20,000 ISA allowance
- Cash or stocks and shares, or both
- The child can manage the account from 16 but cannot withdraw until 18
Related pages
Frequently asked questions
What is Statutory Maternity Pay 2026/27?
SMP is paid for up to 39 weeks: 90% of your average weekly earnings (AWE) for the first 6 weeks, then the lower of £194.32 a week or 90% of AWE for the next 33 weeks. Maternity leave can last 52 weeks; the remaining weeks are unpaid. To qualify you need 26 weeks' continuous employment by the 15th week before the baby is due and AWE of at least the Lower Earnings Limit (£129 a week in 2026/27).
What is Shared Parental Leave + Pay?
Parents can end maternity or adoption leave early and share the rest. Up to 50 weeks of Shared Parental Leave (52 weeks less the 2 compulsory weeks after the birth) and up to 37 weeks of Statutory Shared Parental Pay can be shared. ShPP is the lower of £194.32 a week or 90% of average weekly earnings. Leave can be taken in blocks by either parent, or by both at once.
What is the HICBC threshold for Child Benefit?
The High Income Child Benefit Charge applies to whichever partner has the higher adjusted net income, if it is over £60,000. The charge is 1% of the Child Benefit for every £200 above that, so it equals the whole benefit at £80,000. Child Benefit for 2026/27 is £27.05 a week for the eldest child and £17.90 for each other child: about £1,407 a year for 1 child, £2,337 for 2, £3,268 for 3 and £4,199 for 4. See our HICBC mitigation guide.
What is Tax-Free Childcare?
For every £8 you pay into a childcare account the government adds £2, up to £500 every 3 months per child (£2,000 a year), or £1,000 every 3 months (£4,000 a year) for a disabled child, for children aged 11 or under (16 or under if disabled). You and any partner usually need to be working and each expect to earn at least £2,643.68 over the next 3 months if 21 or over, and neither can expect adjusted net income over £100,000. Childcare vouchers closed to new applicants on 4 October 2018.
What is the 30 Hours Free Childcare scheme?
Free Childcare for Working Parents in England gives 30 hours a week for 38 weeks a year for children aged 9 months to 4 years. The income rules match Tax-Free Childcare: each parent expecting at least £2,643.68 over the next 3 months (aged 21 or over) and no more than £100,000 of adjusted net income. You can use it alongside Tax-Free Childcare, for example to pay for extra hours. All 3 and 4-year-olds in England get 15 hours a week (570 hours a year) regardless of income.
When should I update my will after having a child?
As soon as you can. A will lets you name a guardian for your child if both parents die, choose trustees to manage what the child inherits, and set the age at which they receive it. A will made before the child was born may not provide for them the way you want. A solicitor can also advise on putting life insurance in trust.
Should I get life insurance after having a child?
If anyone relies on your income or you have a mortgage, life insurance is worth considering. Term assurance pays out if you die within a fixed term and is usually the cheapest kind. Income protection pays part of your income if illness stops you working. Check what your employer provides, such as death-in-service benefit, before deciding how much cover you need. Prices depend on age, health and the cover chosen, so compare quotes.
Do I need to register my child for an NI number?
Usually not. HMRC normally sends a letter confirming a National Insurance number shortly before a child's 16th birthday, to the address it has on record; gov.uk says a child for whom Child Benefit is claimed gets the number without applying. If the letter does not arrive, or the child has never had a number, they can apply for one.
How do I claim Child Benefit?
You can claim 48 hours after registering the birth, and a claim can be backdated up to 3 months. Only one person can get it for a child. Even if the High Income Child Benefit Charge would take it all back, still make the claim and choose not to be paid: the claimant gets National Insurance credits towards the State Pension while the child is under 12, and the child will usually get their NI number automatically. If one parent is not working, it usually makes sense for them to be the claimant.
What other support is available for new parents?
Sure Start Maternity Grant: a one-off £500 if you get certain benefits and are expecting your first child (or a multiple birth); not available in Scotland, which has the Pregnancy and Baby Payment instead. Healthy Start: a card for healthy food and milk if you are more than 10 weeks pregnant or have a child under 4 and get certain benefits; Scotland has Best Start Foods instead. In England a maternity exemption certificate gives free NHS prescriptions while you are pregnant and for 12 months after the birth, and is accepted as proof for free NHS dental treatment while pregnant.