That's where we disagree - they pay tax to pay for the benefits of others and receive a small tax rebate
If you've got money to spare, how about just not charging the tax in the first place, rather than taking it off you and giving it back?
Personally, I'd rather see either:
i) money concentrated on those who need it
ii) lower taxes for all
Slightly OT but I hate this triple dip nonesense. Look at the graph, it is nothing of the sort it is merely flat lining with slight micro variation of a fraction of a percent.
So a couple who decides that the Mum stays at home to look after the her 4 kids, and the Dad does fall into those affected but only just goes onto have what equates to around a 9% cut to household income.
Yet a couple that choose to both go to work and put childcare in the hands of others could earn up to £99k is hardly fair. Sure the only a few families are affected, but those that are it has the potential to hit them hard.
Maybe levy for 10% cut to the PM's pay - how quickly would he agree to that?
Hi Jota - never been successful using quote button on iPhone. Do you know if it can work with iOS?
And the other thing i hate is I'm now forced to do self assessment along with many others. What a royal PITA. For a person on PAYE this is sheer lunacy.
What a royal PITA. For a person on PAYE this is sheer lunacy.
Sigh, no it's not. There are many reasons why, as a higher rate tax payer, doing a self assessment is a good thing. If you have a private pension or make charity donations using gift aid then you can claim the additional correct tax, you can also ensure that your savings are taxed at the correct rate.
I'm PAYE and been doing a tax return for years and it is a pretty good thing as far as I'm concnerned. I even got a huge rebate last year as a consequence. Granted I'd have preferred that the tax be correct in the first place but this is the next best thing.
Contrary to what you might expect from a government website, the online form is actually pretty good and doesn't take long to fill in, especially if your only source of income is PAYE.
I thought you only had to do PAYE if you took the benefit rather than just stopped claiming it
is that incorrect?
never been successful using quote button on iPhone. Do you know if it can work with iOS?
it works OK from my iPad, no idea about an iPhone though.
Ok, well may be it is not so bad. Still not looking forward to it. Cheers for the information though.
you can also just type
and then again with bracket/quote]bracket missed or it will quote
Contrary to what you might expect from a government website, the online form is actually pretty good and doesn't take long to fill in, especially if your only source of income is PAYE.
+1
I've been doing self assessment for years and once you've gathered all the information, it takes 15 minutes max for PAYE & Property sections.
It really is very easy - just make sure you register in enough time because the password has to come through the mail - or at least it used to do.
So this information you have to collect, do they take your word or do you have to provide evidence? For example, interest earned on bank accounts and donating to charities. I sense a whole other thread closer to the time.
Well you can lie if you want but they do investigate some people and then you have to supply proof. Fail and you die. Possibly.
I discovered when I phoned to ensure I was being allowed for the 40% on my pension contributions, HMRC could see exactly how much tax on the interest my banks were paying them.
Watch out.
I wasn't suggesting I'd falsify but wondered how onerous the process was. As it happens, i bet my interest earned is less than a whole pound.
Well in my experience they generally take your word for the charity thing although I'm sure that they could investigate if they wanted to. As for the rest of the information your PAYE is on your P60 that your employer issues you every year and you should get a tax certificate from your savings accounts that show the relevant details. The process really isn't onerous at all.
Worth noting how much of the tax collected by PAYE comes from a small number of individuals.
On £50k a year you pay nearly 15k in tax!Do you think that's a lot or a little?
15k is a third of the salary, so I would say thats quite a lot.
Still think child benefit should be universal as its a real help to many families even on top 25% salaries. However I would support a small increase on income tax for those earning over say £75k to make the child benefit self funding.
Its in societies interests to have well brought up next generation. And for singletons bleating about paying for others rugrats to be raised then just ask "who paid for the CB your parents recieved?"
It should stay a universal benefit.
So a couple who decides that the Mum stays at home to look after the her 4 kids, and the Dad does fall into those affected but only just goes onto have what equates to around a 9% cut to household income.
Maybe should consider that when they had the four kids...
Yet a couple that choose to both go to work and put childcare in the hands of others could earn up to £99k is hardly fair. Sure the only a few families are affected, but those that are it has the potential to hit them hard.
Yes, because they'll not be paying out £800+ a month on childcare would they...
There are a few edge cases where people are going to be affected. I'm one of them, probably after next months potential payrise. I'll live.
That's where we disagree - they pay tax to pay for the benefits of others and receive a small tax rebate compared to significant tax paid in the form of a universal benefit. The universal benefit adds fairness to the taxation system.
not entirely sure I follow or are you not being serious?
Yes I am serious - it was one of the key foundation stones of the welfare state post-Second World War.
Yes I am serious - it was one of the key foundation stones of the welfare state post-Second World War.
Its not unreasonable for a taxpayer putting £15000 plus into the state coffers to expect some financial help tax wise when raising kids. Child benefit gives a little back to those who are raising the next generation.
This...
CHB - Member
Cack handed policy is crap for working families.
How can it be fair to give someone on 50-60k an effective tax rate of 65%?
The Government say that the top 15% should pay more into the pot.
I agree with this, however this policy only affects the 15% with kids!
Why not keep the benefit as universal and add a smidge to income tax for all over 50k or somthing to make sure that all high earners pay a bit more into the pot, and not just rob £2500 from those trying to raise a family.
Chronic, ill-thought out policy. I don't mind paying more tax, but like others here with a low/no earning partner, to lose 100% of our child benefit while other higher income households retain theirs is idiotic policy from Tory muppets.
The smoke and mirrors cack that Cameron came out with on the news, "the poor folk should be paying for child allowance for the well off".
They weren't. Ever. It came out of our own PAYE.
15k is a third of the salary, so I would say thats quite a lot.Still think child benefit should be universal as its a real help to many families even on top 25% salaries. However I would support a small increase on income tax for those earning over say £75k to make the child benefit self funding.
Does that mean you earn about, ooh, £74,800, then? 😉
Does that mean you earn about, ooh, £74,800, then?
Heavens, no!
😉
