baby number 4 tax relief????

darcyvuqua

hi guys not really sure about this although im sure its not true
me and my wife have been thinking of having a forth and final baby however the way the money is flowing in the uk right now were kinda putting it off!
i did however get told today that if we did go ahead with it we would pay less tax on earnings does anyone know if this is true as it could be the icing on the cake as to go for it

thanks in advance i did do a search but could not find anything on this so sorry if it has been posted before!

elle_gee

Absolute nonsense that you would pay less tax. Your tax code doesn't change whether you're married, single, have no children or sixteen.

However, your tax credits might be affected. Maybe this is what the person who told you about the tax was talking about. Try running your details through www.entitledto.co.uk and see what results you get for three or four children.

Penelope_Penguin

darcyvuqua wrote: »

hi guys not really sure about this although im sure its not true
me and my wife have been thinking of having a forth and final baby however the way the money is flowing in the uk right now were kinda putting it off!
i did however get told today that if we did go ahead with it we would pay less tax on earnings does anyone know if this is true as it could be the icing on the cake as to go for it

thanks in advance i did do a search but could not find anything on this so sorry if it has been posted before!

Not true You'll get more child benefit and more child tax credit (including a bonus until the baby is 1) but they won't go far towards the extra expenses of a fourth child.

Paparika

Why have another child? the world is over populated as it is.
ah well another to demand a council flat when they are older



Harsh yes. so many cannot have children. Adopt if all you are thinking about is the money

tamlem

We have 4 children and pay heaps of tax! As the previous posters say there is no extra allowance for a fourth other than child tax credit and child benefit (minimal!).

That said, obviously I would not be without my 4 even though at times juggling money is hard.

browneyes78

Paparika wrote: »

Why have another child? the world is over populated as it is.
ah well another to demand a council flat when they are older



Harsh yes. so many cannot have children. Adopt if all you are thinking about is the money

Harsh isn't the word!!! Why would you question someones decision to have a fourth child?
Just because so many can't have children doesn't mean you should give up your fundamental right to have children of your own. Speaking as a mum to be of 4 children and also as an adopted child, I think your comments are bang out of order. My mum had 5 children-3 of which she adopted and not one of us lives in a council house and even if we did-it wouldn't make us any less special than anyone else. Council housing is there for a reason!
I think the original poster is being sensible and weighing up options. I don't think it is a case of having an extra child to get a bit more money. Having a child, whether biologically or adopting, is a huge responsibility that requires a lot of issues to be raised-one of the most important being finances.

BernadetteN

Sorry but it's just not true. If your income qualifies you for full rate child tax credit, you will get around £40 extra per week, plus and additional sum for the first 12 months, which is the same for each additional child. You will also get an extra £12.55 per week child benefit.

You will have to move to France, Germany etc to get a big cash incentitve to have extra children and to lower your tax burden. Here in Belgium, for 4 children I can get a tax-free income of around €18,000 per annum and the equivalent of child benefit of over €9,300 per annum which is double the UK rates.