MSE News: Budget 2012: Child benefit cut partially reversed

rippedoff3

Lifes_Grand_Plan wrote: »

You just answered your own question... you CHOSE to stay at home....

Your next door neighbours may earn £30k each per year, but presumably pay for childcare (if their kids aren't in school) at a cost of £8k ish per year for one child, or a lot more if they have two, three or more....

Plus if they are both working, they may have to run two cars to get to separate workplaces etc...

Not to forget the unquantifiable of course.... not only are the neighbours paying silly amounts of their wages for childcare... they are also missing out on spending quality time with their kids that you benefit from....

People (in general, not specifically you) are always too quick to have a moan that they are "losing out" without looking at it from the other side.

Thats true, but i am a stay at home mum of a child with a chronic disease which requires trips to hospital regularly and so we need to run two cars and i need to be around. The people i am discussing work because they like the lifestyle they live, the grandparents have the children at no cost.
I agree with others that over a certain point people shouldn't receive any benefits i prefer the tapering system but still see huge loopholes

jenfa

Thank you for the info on the ni credit. Think it will be very important for everyone to check next years tax code very carefully. Will look at the pension thing as my husband works for the NHS and his contributions go up to 9.9% this April.

blush2783_2

Hi all, can anyone confirm for me about the age cut off for child benefit? A while ago they were batting the idea around of losing it once your child was 12. Has this been scrapped?

AirlieBird

Martin is tweeting incorrect information.

To confirm the child benefit cut starts April 2013 not 13 April

The Child Benefit cut starts 7 January 2013 not April 2013.

HMRC wrote:

Operative date
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The measure comes into effect from 7 January 2013. HM Revenue & Customs (HMRC) will contact people earning over £50,000 about the new charge from autumn 2012.

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GobbledyGook

I think this child benefit thing will last one year then in the following budget they'll say "it's too complicated so we're throwing child benefit in with Universal Credit" so that it'll be based on household income and can be cut more.

bifbet

The way out for those who can afford it and earn 50 to 60K is to increase pension contributions.

SG_28

AirlieBird wrote: »

The income tax system is based on individuals and does not know who your partner is. The Child Benefit system only knows who is claiming Child Benefit and does not know who your partner is. So how exactly do they think they are going to identify a Child Benefit recipient's partner who earns above £50k?

Could someone answer this for me pls?

sly_dog_jonah

SG_28 wrote: »

Could someone answer this for me pls?

It'll be a question on the self-assessment tax return form, which HMRC will probably insist that any higher rate tax payers living at same address as a CB recipient will need to complete.

poppy5

I have 5 children and am a stay at home mum.

We are one of the unlucky ones and are going to lose £3500 child benefit. It's the only benefit we have ever received.

I don't think it is fair that now a couple can now earn even more ie up to £100,000 and keep their child benefit.

I feel we are paying for everyone else to keep their benefits.

helen0

never seen adjusted net income before are childcare vouchers (salary sacrifice) taken into account or is it only pension contributions and gift aid?