Benefits for high earners

anamenottaken

princessdon wrote: »

I never bothered until forced to do self assessment for CB between jan and march. Our local brownies, cubs, guides etc are registered charities (gift aided) as is our PTA. So I save 20% on each trip.

Also the football, rugby clubs registered under CASG rules, so they claim gift aid, so footie fees saved etc.

I was suprised at how much there is as I never looked into this prior.

Also many use a "umbrella" like just giving etc, again you can claim.

Tax reclaims re gift aided donations for higher rate taxpayers should be purely where the recipient received no benefit from the donation.

If you are paying for trips for your child which would not have otherwise been free then the amount should not have been a gift aided donation. It would have been payment for a service directly received - the trip for your child.

**Patty**

Nick_C wrote: »

Thanks Patty. The 12 months is sneaky, I couldn't see that on their web site, but did see its a variable rate. Presumably you can transfer to another provider if the rate drops?

Re it only applying if the parent also has a cash ISA with Halifax, presumably you can get round this by just opening an ISA with £1. Personally, I don't think adult cash ISAs are worth having, and I'm moving my maturing accounts into self invested Stocks & Shares ISAs.

Hey Nick


Yes, after the 12 months you can shop round for a more preferable rate.

Umm...and yes....you can open an adult ISA with £1 **did that too*

lukieboy96

£150,000 and they want to know what benefits they can get?

LL30

All over the news this morning:

http://www.bbc.co.uk/news/uk-politics-23565469

Looks like you may just earn too much mind...

**Patty**

lukieboy96 wrote: »

£150,000 and they want to know what benefits they can get?

To be fair..i think the OP has entitled this post wrong.

He is not looking to claim welfare benefits, it appears he is simply looking to maximise the tax allowances he will have. As are most posters on this site (albeit not this board)

Cut the guy some slack

byrneand

lukieboy96 wrote: »

£150,000 and they want to know what benefits they can get?

Not so much benefits, more like tax credits.

I hear friends talking about child are vouchers etc. and literally no nothing.

Since I payed a small fortune in tax, I just wondered if there's anything available to help with child are costs etc.

I don't think I'm out of line when I say it's the same question that almost every single parent in the country asks.

princessdon

byrneand wrote: »

100% agree. Just can't turn things around instantaneously due to commitments. When the opportunity comes to leave on a Friday at 3pm and switch the phone off, I'll certainly be looking to take it!

Baby doesn't arrive until October hence trying to get annual projects and targets out the way now.

It is hard, he didn't have the balance right in the earlier days either, so cant preach, his industry is reknown for high pay but sell your soul, so understand the pressure, good luck with bubba, they sure change your life!

byrneand

princessdon wrote: »

It is hard, he didn't have the balance right in the earlier days either, so cant preach, his industry is reknown for high pay but sell your soul, so understand the pressure, good luck with bubba, they sure change your life!

Many thanks.

princessdon

anamenottaken wrote: »

Tax reclaims re gift aided donations for higher rate taxpayers should be purely where the recipient received no benefit from the donation.

If you are paying for trips for your child which would not have otherwise been free then the amount should not have been a gift aided donation. It would have been payment for a service directly received - the trip for your child.

I am well aware - the trips are free to those on low incomes, for others they ask for a donation that they gift aid. I could refuse to pay.

Also it's not stictky true that you can't expect anything in return or the national trust, English heritage and zoos are failing in their responsibilities. The gift aid technically covers, research and conservation not entrance fees.

mrschaucer

Don't know whether anyone's mentioned that although all Child Benefit paid to your wife would be claimed back from you eventually via the tax system, it would be worth while her CLAIMING it as she then benefits from Nat Ins credits which go towards her pension. She can choose to have the money and you pay it back, or merely register her claim, not take the money and get the credits anyway.