CSA Gross Income CM Scheme questions.

24

Comments

  • "I've just done a quick calc and I would end up paying almost twice what I am paying at the moment. Thankfully I should be well clear of the CSA by the end of next summer. This is going to really cripple most financially"

    And CSA1 aint already doing this???? :mad:
  • Blue_Horizon
    Blue_Horizon Posts: 137
    Name Dropper First Post First Anniversary Combo Breaker
    Forumite
    "I've just done a quick calc and I would end up paying almost twice what I am paying at the moment. Thankfully I should be well clear of the CSA by the end of next summer. This is going to really cripple most financially"

    And CSA1 aint already doing this???? :mad:

    Point taken
  • kelloggs36
    kelloggs36 Posts: 7,703
    First Anniversary Combo Breaker First Post
    Forumite
    marksoton wrote: »
    Which is BS because the PWC could easily have gone for diversion of income. It is however quite difficult to prove as the motive for reducing CSA has to be proven even if it isn't the primary reason for the NRP decision. Also, it takes an absolute age!

    The irony is i only keep my pension for the life assurance it would give my daughter in event of my death.

    When they start including it in the assessment i might just stop paying in, it simply won't be worth it.

    And the government keep telling us we should be saving for our future. :rolleyes::rotfl:
    ..............................................................
  • I presume they will also take into account CTC and WTC???
  • Hi Everyone, On NASCAR website they have the formula for the calculation.
    Pensions are an allowable expense but there is a cap on the amount you can pay into closing the loophole of diverting income. I have not read anywhere that WTC and CTC are taken into account. With the new cuts coming less people are going to be entitled to tax credits anyway. We will certainly lose ours in 2012 when the limit comes down to £30K. Our calculation came back at £3 less than we pay now.
  • lynn45
    lynn45 Posts: 78 Forumite
    Having problems finding the white paper for new CMEC regulations- anyone know where i can find this???

    I've read that the CSA office in shrewsbury is to close due to a fall in new applications for CM since 2008- think this was when PWC who's on benefits could choose whether or not to go through CSA/CMEC. Seems like a lot are opting out.
  • sarflee
    sarflee Posts: 375 Forumite
    mum24boys wrote: »
    Hi Everyone, On NASCAR website they have the formula for the calculation.
    Pensions are an allowable expense but there is a cap on the amount you can pay into closing the loophole of diverting income. I have not read anywhere that WTC and CTC are taken into account. With the new cuts coming less people are going to be entitled to tax credits anyway. We will certainly lose ours in 2012 when the limit comes down to £30K. Our calculation came back at £3 less than we pay now.

    It's not often posts make me smile on here but the thought of an American stock car racing site having a CSA formula made me smile! Thank you mum24boys!!
  • shell_542
    shell_542 Posts: 1,333 Forumite
    mum24boys wrote: »
    Hi Everyone, On NASCAR website they have the formula for the calculation.
    Pensions are an allowable expense but there is a cap on the amount you can pay into closing the loophole of diverting income. I have not read anywhere that WTC and CTC are taken into account. With the new cuts coming less people are going to be entitled to tax credits anyway. We will certainly lose ours in 2012 when the limit comes down to £30K. Our calculation came back at £3 less than we pay now.

    Whereas my husband would pay £3 more a month.
    August GC 10th - 10th : £200 / £70.61
    NSD : 2/8
  • Just wondering where we can go to work out new calculations. It's worrying for us as we really don't have the disposable income to pay anymore.
  • shell_542
    shell_542 Posts: 1,333 Forumite
    It's 12/16/19% of gross pay based on last years details held by the tax office or whoever has the details. Works the same as now. Deduction for any resident children, then a percentage for child support and then reductions for overnights.
    August GC 10th - 10th : £200 / £70.61
    NSD : 2/8
This discussion has been closed.
Meet your Ambassadors

Categories

  • All Categories
  • 342.5K Banking & Borrowing
  • 249.9K Reduce Debt & Boost Income
  • 449.4K Spending & Discounts
  • 234.6K Work, Benefits & Business
  • 607.1K Mortgages, Homes & Bills
  • 172.8K Life & Family
  • 247.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.8K Discuss & Feedback
  • 15.1K Coronavirus Support Boards