Benefits for high earners

byrneand

jacques_chirac wrote: »

Your mum works in an area of high deprivation. How do you go from that, to suggesting that 'almost every single parent in the country' is the same

Apologies. I think your trying to combine two mutually exclusive quotes there.

How many times do I need to say that I was simply asking if I was missing something with regards children's allowances etc, child care vouchers etc.. (Since I know chuff all about them). My perception was that I was not entitled to anything; a view reinforced by others by either through facts and experience or just their own opinion.

Correct me if I am wrong, but I think my comment that children and child care are expensive and so most would ask, is there any way to make it cheaper remains valid.

byrneand

jacques_chirac wrote: »

Be careful with that chip on your shoulder!

Just re-read this, just realising that you may of felt I was referring to "single parents" as in we're the couple have split up... As opposed to every parent as I actually meant. E.g 100% of all parents in the country... Not 100% of single parents

Nick_C

Every single parent is not a single parent!

Try reading what is written with an open mind, and you might gain an appreciation of other peoples' points of view.

KxMx

**Patty** wrote: »

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

Actually it does seem to me like he is checking his benefit entitlement (or lack thereof):

byrneand wrote: »

Hi everyone,

Excluding the moral debate over whether allowances and/or benefits should be allowed/claimed by higher earners, I was just wondering if anyone could flag what benefits or tax credits are available for families where one of the pair earn over £150k per annum.

We are moving back to the UK and have no experience of claiming anything. The only reason we ask is that we will have a newborn and I'm conscious that in the past there have been various child schemes available. I think these have been made redundant however for higher earners.

My wife is a stay at home mum, we'd have a < 1year old, and then I'm fortunate enough to earn >£150k.

I've checked some of the calculators and they suggest that we're not eligible for anything (which doesn't seem unreasonable). Can anyone suggest if there is anything we should look into for eligibility?

Thanks in advance.

byrneand

KxMx wrote: »

Actually it does seem to me like he is checking his benefit entitlement (or lack thereof):

100% correct. Just wanting to know what we are entitled to. Once you know that you can then make a decision on whether to take it up or not.

I'm not looking for housing allowance and all that jazz just if there's children's allowance and child care vouchers etc.

The conversation stemmed from us watching sky news about the homeless and also a scrolling headline about child benefit changes. I commented to the wife that in my experience, I've never been entitled to claim a thing, no need to worry about public pensions and stuff like that as we'll never be eligible for any of it.... And in the context of all the homeless you could understand it. She said that in her country of origin (within the EU) people received it irrespective of income level as every child was entitled to receive it.

I said I didn't know in all honesty, checked a couple of calculators which said no, and thought I'd check on here.... Que debate about social equality.

I'll try and refine my language next time I post!!

KxMx

In all fairness OP benefit entitlement is exactly what this board is about

SuziQ

Hi Byrneand,

I'm sorry that your question has produced nothing but sarcasm and insults, but I'm afraid that is what 21st Century Britain is like. We are now a society that believes the state owes us everything, the rich should pay for it, and everything that has gone wrong in our lives is someone else's fault.

As someone earning more than £150K pa, you will be entitled to pay a minimum of £60K in tax and national insurance to help to support bone idle layabouts who have never done a day's work in their lives.

You would think that your significant financial contribution to our failing economy would be welcomed, and that you would be congratulated for having achieved a sound financial situation that will allow your wife to stay at home and be a good mother to your children, instead of having to go out to work and farm them out to strangers, but you will not. You will be met with envy and jealousy.

Child Benefit is out of the question, but you can minimise you tax liability by opening a junior ISA for your newborn. Halifax currently pay 6% and you can save up to £3,720 pa, which is locked away until your child reaches 18. This should cover your child's costs once they go to university, so offer you a long term saving.

Despite your immense wealth, a benefit that the envious majority have not yet taken away from you is that you and your wife are still allowed is to invest up to £11,520 each in an ISA each year, avoiding higher rate tax on investment income.

Apart from that, expect to give a lot of money to the State and get very little in return.

Welcome back to the UK! (Are you sure you wouldn't rather stay where you are?)

Great post, Nick!

Dunroamin

melly1980 wrote: »

I'll tell you what is more cheeky.

Expecting someone to have 50% of their salary forcibly removed from them to give to less sucessful people, and then listen to those same people lecture about benefits.

Yet another person who thinks (or tries to make others think) that high rate tax payers pay this on all of their salary!

Dunroamin

mrschaucer wrote: »

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.

You seem to be assuming that the OP's wife isn't working, which seems unlikely as he's mentioned childcare vochers.

Nick_C

Dunroamin wrote: »

You seem to be assuming that the OP's wife isn't working, which seems unlikely as he's mentioned childcare vochers.

If you read the first post, OP states "My wife is a stay at home mum,"