MSE News: Higher rate tax payers to lose child benefit

Ms_Sparkle

I can't help but think the government should look at all the really rich such as footballers and celebrities and those who get high bonuses who put all there money in foreign bank accounts to avoid tax rather than keep penalising those who work hard day to day. A friend of mine husband got a bonus of over a million and he was advised to put it in a bank in Dubai to avoid paying tax. He was actually one of the good ones who chose to take it in the UK therefore paying half in tax. Surely they should look at that first, do that those who earn in the UK have to pay tax on there earnings. Look at people like Jenson Button who lives in Monte Carlo to avoid paying tax. The government only need to watch 'Piers Morgan on Monte Carlo' to find out about it. There'll probably find billions in tax from that way rather than taking more money away especially as living is getting more costly.

Dorastar

Surely to goodness they will have to even things up somewhere along the line - still don't know why I am being penalised for working hard to hold my family together. Dh has been out of work for 18 months with depression and not allowed any benefits after 6 months cos I earn enough to keep him and now having managed to get him,us and the kids through it all and worked my guts out to gain promotion. I am now paid £500 per year over the £44k and so all my hard work will do is lose us our Child benefit.

We have many friends with a dual family income of nearly double ours who will still qualify - don't know why my children are any less important than theirs but am going to take steps to redress my work life balance since hard work definitely doesn't pay.

We can manage on one wage as the last months have shown but CB has been there for new school shoes and coats and dinner money - not exactly life's luxuries and nan has stepped in with a gift when the car engine died (I use it for work daily and cannot get there on public transport) I know the country is in a dire way according to all the news and I had envisaged being one of the main losers as I work in the public sector and we will bear a lot of the brunt but still think that this needs to be done on a household basis. I feel attacked for having done my best for my family.:(

annies_mum

tawny4768 wrote: »

Surely if you are simply paying the child benefit into the CTF you won't miss it? OK, so the fund will not grow so quickly - but the benefit is meant to pay for food and clothing, not investments!

couldn't agree more!

shop-to-drop

Dorastar wrote: »

Surely to goodness they will have to even things up somewhere along the line - still don't know why I am being penalised for working hard to hold my family together. Dh has been out of work for 18 months with depression and not allowed any benefits after 6 months cos I earn enough to keep him and now having managed to get him,us and the kids through it all and worked my guts out to gain promotion. I am now paid £500 per year over the £44k and so all my hard work will do is lose us our Child benefit.

We have many friends with a dual family income of nearly double ours who will still qualify - don't know why my children are any less important than theirs but am going to take steps to redress my work life balance since hard work definitely doesn't pay.

We can manage on one wage as the last months have shown but CB has been there for new school shoes and coats and dinner money - not exactly life's luxuries and nan has stepped in with a gift when the car engine died (I use it for work daily and cannot get there on public transport) I know the country is in a dire way according to all the news and I had envisaged being one of the main losers as I work in the public sector and we will bear a lot of the brunt but still think that this needs to be done on a household basis. I feel attacked for having done my best for my family.:(

I sympathise with you we feel the same. Hopefully your circumstances will be better by 2013 I guess you will still miss out like many of us though even if they do.

Dorastar

Have written a lengthy letter to my MP and suggested he hits George Osborne over the head with it - made me feel better anyhow:rotfl:

shop-to-drop

Dorastar wrote: »

Have written a lengthy letter to my MP and suggested he hits George Osborne over the head with it - made me feel better anyhow:rotfl:

Good idea!

DirectDebacle

Assuming all remains equal then over the 20yr maximum of CB you lose out on a massive £20k odd.

Over the same period a £44k income rakes in a miserly £880,000.

Not surprised some of you feel victimised.:rotfl:

hiney777

DirectDebacle wrote: »

Assuming all remains equal then over the 20yr maximum of CB you lose out on a massive £20k odd.

Over the same period a £44k income rakes in a miserly £880,000.

Not surprised some of you feel victimi1sed.:rotfl:

1 family living on benefit £26,000yr tax free over 20 yrs £520,000 tax free.
50,000 families are apparently claiming at least this,
50,000 x 520,000 = 26,000,000,000 tax free benefits

every year me and 4 other people I work with pay all our taxes to keep 1 family.
We dont even get a card at christmas from them

julie2710

hiney777 wrote: »

1 family living on benefit £26,000yr tax free over 20 yrs £520,000 tax free.
50,000 families are apparently claiming at least this,
50,000 x 520,000 = 26,000,000,000 tax free benefits

The way things are loooking for me work doesn't pay so make that 50,001!!!

Oh I'd just like to add as well that although some people may"chose" to have children they can't afford, some of us are less fortunate and "chose" to have children we can afford but through no fault of our own find ourselves in positions where they are a little less affordable than we planned. Just hope that none of those who judge ever find themselves in changed circumstances that may mean they need a little bit of help too!

qetu1357

DirectDebacle wrote: »

Assuming all remains equal then over the 20yr maximum of CB you lose out on a massive £20k odd.

Over the same period a £44k income rakes in a miserly £880,000.

Not surprised some of you feel victimised.:rotfl:

£44k over 20 years wont rake in £880k.

It would "rake" it around £644k as you have to pay around £236k in tax.

I think the point is why should we pay in £236k and get NOTHING back in benefits?