📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Child Support / Tax Increases

A small and easily missed impact of the rise in tax will be the hit on those who pay child maintenance.
In my own situation I pay my daughters' mother and stepdad monthly based on an annual calculation via the CSA website, which starts with my gross wage, less my pension contribution.  So this year my payments go up based on my annual salary increase as expected, but then factor in the increase in tax on my gross wage and what's left is reduced even further than usual.
I wonder if it's about time to reassess the child maintenance process to take the wider income picture of both parties into account and consider the economic landscape too.

Comments

  • ZaSa1418
    ZaSa1418 Posts: 651 Forumite
    500 Posts Third Anniversary Name Dropper
    It is annoying that tax increases are going up but i do not think the CMS will go backwards. They used to take into account both household incomes pre 2003 so i can't see why they would ever do it again.
    LBM Debt Total : £48,326.50

    Pay All Your Debt Off By Xmas 2023 - #50  £1,495.29 / £12,000.00
    Saving For Christmas 2023 - £1 a day challenge - #6 £100/£1095.00
  • WYSPECIAL
    WYSPECIAL Posts: 746 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    You could consider increasing pension contributions to reduce you tax and CMS payments.
  • It's so frustrating. Pension contributions are definitely a must. However, learning to cope with these things should be something teachers teach us at school. 
    It's way too much 
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.3K Banking & Borrowing
  • 253.2K Reduce Debt & Boost Income
  • 453.7K Spending & Discounts
  • 244.3K Work, Benefits & Business
  • 599.4K Mortgages, Homes & Bills
  • 177.1K Life & Family
  • 257.7K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.