New baby for 40% tax payer: Any support?

JencParker

tonycottee wrote: »

Have you got some figures to hand?

To hand? no - but they're easy to find. I have work to do so I'll leave it to you - IF you're genuinely interested that is!

Credit-Crunched

JencParker wrote: »

What a helpful contribution to this thread!

No, it is not ALWAYs someone else's fault, but your insinuation that any who claims any benefit is far from the truth. The majority of the benefits bill goes to pensioners, some of whom will have done more for this country than most. There are plenty of people on benefits who work hard on minimal wages, on incomes that are too low to live on due to the high cost of living/housing.

Tax payments are not like paying into a savings account. They are a payment towards services required by all of society, payable according to your means. Those who earn more pay more. Those who earn at the bottom of the pay level get help. Those who are unable to work, often through no fault of their own also get help. The OP is a high enough earner that it is considered that he doesn't need extra help.

Your naivety is quite staggering to think that the benefits system is an efficient and fair way to reward those most in need.

9% of benefits claimants come from families where 2 (yes 2) generations of adults have not worked. As in not paid a penny into the system, yet habitually and systematically abuse it.

I agree that the welfare state as a savior for the elderly, weak and vulnerable is a notion we should be proud of and cherish.

However, to think it is in that current guise is staggering naive.

The system is abused by hundreds of thousands of cases, people too lazy to work, people fraudulently claiming, people not working 'coz i gets more on benefits'

I suggest that you take off your fairy tale hat and rose tinted glasses and start doing some solid qualitative and qualitative research.

I have a 350 page thesis on the subject matter if you wish to have a copy

tonycottee

JencParker wrote: »

To hand? no - but they're easy to find. I have work to do so I'll leave it to you - IF you're genuinely interested that is!

Obviously not that easy then

somethingcorporate

If you earn £40k you are not a higher rate tax payer, you are still in the 20% bracket.

FlashBarry

somethingcorporate wrote: »

If you earn £40k you are not a higher rate tax payer, you are still in the 20% bracket.

Hi,

Can you explain this please?

My finance department said I am well into the 40% tax band.

I also have a company car to the BIK tune of about £4500 a year

Lokolo

FlashBarry wrote: »

Hi,

Can you explain this please?

My finance department said I am well into the 40% tax band.

I also have a company car to the BIK tune of about £4500 a year

What is your tax code? Your company car will change this for you, but for most it is 944L which is an allowance of £9440.

The higher rate tax rate is £32,011.

So for those on 944L you wouldn't start paying 40% until you earn over £41,451 (£9440 + £32011)

StormyWeather_2

This board is supposed to be for advice on benefit entitlement, which is what the OP is asking about.

From the sticky at the top of the board:

This board is here for help and support for those on or looking to claim benefits, not for judgement.

FlashBarry

nannytone wrote: »

get a grip.
the OP is earning in excess of 40k, his partner will receive 7k in maternity allowance and over 1k in child benefit .
people fo on about the 'culture of entitlement'. the fact that someone with the income level of the OP fwwla they should be entitlled to more than child benefit is eqyally oddensive.

Ohhhh nannytone,

Looking at some of your posts, am I right in thinking that YOU claim several benefits/handouts from the state?

Yet this 'culture of entitlement' is my fault?

Wow. Just, wow.

notanewuser

Lokolo wrote: »

What is your tax code? Your company car will change this for you, but for most it is 944L which is an allowance of £9440.

The higher rate tax rate is £32,011.

So for those on 944L you wouldn't start paying 40% until you earn over £41,451 (£9440 + £32011)

The OP's tax code will be reduced by £4500 for his company car.

So tax code of 494L. That's £4949 plus £32011 for tax free and 20% tax. That's £36,960 and the rest at 40%.

midnight_express

FlashBarry wrote: »

Ohhhh nannytone,

Looking at some of your posts, am I right in thinking that YOU claim several benefits/handouts from the state?

Yet this 'culture of entitlement' is my fault?

Wow. Just, wow.

Only ESA, HB (social housing), DLAM, DLAC, CTS, free transport and £250 a week in direct payments.

Call the baby nannytone and you'll be raking it in.