Tax Credits

ukcarper

michaels wrote: »

Except you didn't answer the substantive point re how much tax credits yo think a couple with 2 kids on 26k should get? I don't know how much housing and council tax benefit you would get with this income but I have 3 kids and we spend less than 22k pa (net of 26 gross) after housing costs.



We had 2.4k per annum taken off us at a stroke with the removal of child benefit, no talk of needing time to transition for that one.



No because they are effectively taxed at marginal 81% or more with NI, income tax and the removal of tax credits; where as for a high earner an marginal tax rate of 52% is considered enough to deter them from working more.

Ran it through entitled to and the couple with 2 kids would have £19400 a year including child benefit after rent and council tax.

andrewmp

ukcarper wrote: »

Ran it through entitled to and the couple with 2 kids would have £19400 a year including child benefit after rent and council tax.

The hardest hit will be the low paid with a mortgage as they won't see an increase in housing benefit to offset the drop in tax credits as they aren't entitled to housing benefit. I reckon it'll therefore hit those in the North hardest as they're much more likely to be able to afford a mortgage whilst receiving tax credits.

Mistermeaner

And rightly so, why should benefits pay to grow someones capital wealth? They're supposed to be a Safety net

cells

Just watched a video on the BBC with the home nailbar woman talked about her kids having to go without swimming lessons that cost a fiver when business is slow and there are times she has to go hungry so her kids can eat they come first you see.....

in the background her dog was eating away at its bowl and sat next to her was another large dog

she went on to say all the money she makes goes stright back into her business of two years so she doesnt make anything. clearly BS its a business with virtually no overheads run at home its likely a cash in hand thing and she probably does get very few customers its a make job a fake job by the looks of it

kinger101

cells wrote: »

Just watched a video on the BBC with the home nailbar woman talked about her kids having to go without swimming lessons that cost a fiver when business is slow and there are times she has to go hungry so her kids can eat they come first you see.....

in the background her dog was eating away at its bowl and sat next to her was another large dog

she went on to say all the money she makes goes stright back into her business of two years so she doesnt make anything. clearly BS its a business with virtually no overheads run at home its likely a cash in hand thing and she probably does get very few customers its a make job a fake job by the looks of it

There are three solutions, which can be adopted singly or altogether;

(a) father needs to contribute more to the raising of his children
(b) getting a proper job
(c) 보신탕

Mistermeaner

I'm too busy working and looking after my child to watch the news.... has she been publicly questioned about selling her dogs and quitting what is clearly a !!!! business? Has she been asked why she kept popping out sprigs she couldn't afford?

I have one child and no dogs - in part because I can't afford more and I'm too busy with work to look after them (dont worry I cope with the one kid)

zagfles

cells wrote: »

Just watched a video on the BBC with the home nailbar woman talked about her kids having to go without swimming lessons that cost a fiver when business is slow and there are times she has to go hungry so her kids can eat they come first you see.....

in the background her dog was eating away at its bowl and sat next to her was another large dog

she went on to say all the money she makes goes stright back into her business of two years so she doesnt make anything. clearly BS its a business with virtually no overheads run at home its likely a cash in hand thing and she probably does get very few customers its a make job a fake job by the looks of it

The irony is that if she makes zero profit, her tax credits won't be cut at all anyway!!

cells

Mistermeaner wrote: »

I'm too busy working and looking after my child to watch the news.... has she been publicly questioned about selling her dogs and quitting what is clearly a !!!! business? Has she been asked why she kept popping out sprigs she couldn't afford?

I have one child and no dogs - in part because I can't afford more and I'm too busy with work to look after them (dont worry I cope with the one kid)

no it was a general bbc short 2 minute video no mention of the dogs they were just in the shot. One in the background eating away at its dog food and the other sat next to her both large dogs not small ones. I don't have dogs so maybe they don't cost a lot but to pretend she sometimes has to go without food so her kids can eat is just taking the !!!! as there truly are people who have to make decisions like that.

and no real talk about her business but there was a shot of the room where she has her gear and a chair to paint nails etc. she says she doesnt make any money as she puts it all back in her two year old business to grow it. But thats clearly BS buying stock or equipment adds to you balance sheet its a profit. I don't doubt that she has very few customers maybe only one a week maybe not even that but clearly its not a job its fake. Also the "I work bloody hard" sob story on question time kinda stinks now when you consider she either doesn't work or works close to zero hours a week

cells

zagfles wrote: »

The irony is that if she makes zero profit, her tax credits won't be cut at all anyway!!

that too

but its a shame because a lot of people who aren't really interested in the debate will only have small bits of info on it to make their decision

Im not that interest in the tax credits as I dont get them never have but all I have to go on is the odd discussion I read here and little bits of info on the web while reading other news stories. And what she has done is make me lean towards there being nothing wrong with cutting the tax credits of people who 'work bloody hard' maintaining a business with no customers in their home and feeding and taking care of two large dogs while pretending she cant eat sometimes so her kids (and the dogs) can

zagfles

Dird wrote: »

Without knowing what they get it's hard to say.
Is the person on £11k losing £1550 of £12k of government subsidy?
Is the person on £25k losing £2500 of £3k of government subsidy?

The person on £11k should have a worse quality of life regardless unless the £25k person is reproducing a football team



Where did you find those tax credits? £9k?! I need to churn out a couple sprogs

What do you mean where did I find them? Tax credits rates and thresholds are published just like tax rates and thresholds, here for instance:

https://www.gov.uk/government/publications/tax-and-tax-credit-rates-and-thresholds-for-2015-16/tax-and-tax-credit-rates-and-thresholds-for-2015-16