Here's a question to rile some of you. I gather I may well be a good 12 months or so behind the curve on this, and I may be some way off the mark in my undertanding of how these things work.
Say Mr A. N. O'Nymous earned £5k over the cut-off point for the child tax credit thing, could Mr O'Nymous put that £5k into their pension to end up under the limit? If so, and given the cost of child care and the 40% tax on that £5k, would it be financially beneficial to "lose" the £5k and pick up some lovely government handouts in its place?
I know nothing of these things, and it's never been something in my sphere of awareness, but it would get on my hypothetical nerves if my hypothetical wife's hypothetical best friend received child tax credits despite their hypothetical total household earnings being roughly £10k more than ours. Hypothetically speaking.