Originally posted by sreed
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Spring budget - what tax to cut?
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Originally posted by Fraidycat View Post
Dont they do that already for child tax credits? When i google it says child tax credits are based on household income..
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Originally posted by eek View Post
Kicking in at £60k means it impacts fewer families ideally it would be binned but a higher starting point and taper at 10% rather than 20% is a vast improvement on what was there before
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Originally posted by some guy some where View Post
I don't disagree with this being an improvement, but they should abolish the charge completely and remove the 2 child cap - they should be encouraging families of all income levels to have more children especially given the way the demographics is going, there will be no one around to pay state pensions...
We need some real incentives like this:
Hungary's prime minister, Viktor Orbán, has promised that women who have four or more children will never pay income tax again.
However in the UK the elites have decided we are going to import immigrants instead..Last edited by Fraidycat; 6 March 2024, 15:15.Comment
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Originally posted by some guy some where View Post
I don't disagree with this being an improvement, but they should abolish the charge completely and remove the 2 child cap - they should be encouraging families of all income levels to have more children especially given the way the demographics is going, there will be no one around to pay state pensions...Comment
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Originally posted by Fraidycat View Post
Don't they do that already for child tax credits? When i google it says child tax credits are based on household income..
On disability they set on the household income so if you have grown up kids and the household earns > £100k your disability payments dwindle.
https://www.gov.uk/child-benefit-tax-charge
it may not be a massive incentive but £2k means people are less likely to live together, if I get a Girlfriend with a council house, I wouldn't move in or move her into my house.Last edited by vetran; 6 March 2024, 15:59.Always forgive your enemies; nothing annoys them so much.Comment
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Originally posted by vetran View Post
No its on either 'parent' in the household. So if your Girlfriend who earns £30k claims CB for her kids and you don't have any but earn £60k you get to pay back what she is claiming.
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Originally posted by Fraidycat View Post
Yes we know that appiles to child benefit, we were talking about precedents for using household income, and so I mentioned child tax credits.
This came up from the Commons Library - https://commonslibrary.parliament.uk...fings/sn00870/
The system of independent taxation
Since the introduction of independent taxation in 1990, all individuals have been assessed for tax as separate persons. This reform reversed a principle that had underpinned the tax system for almost two hundred years: that a married woman’s income was simply part of her husband’s income, and should be taxed as such.
The introduction of the married couple’s allowance
As part of this reform a new tax allowance, the married couple’s allowance (MCA), was introduced. The MCA could be claimed by all married couples. In April 2000 the MCA was withdrawn from all couples, except those who had already reached the age of 65 or over. This remains the case. As a consequence only those couples in which one partner is at least 89 years old will be entitled to claim the MCA in the coming tax year (2023/24)."You’re just a bad memory who doesn’t know when to go away" JRComment
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Originally posted by Snooky View Post
Spain has a flat rate tax system? That's news to me, I thought it was a progressive system. Perhaps I misunderstood what you were saying.
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Originally posted by SueEllen View PostSince the introduction of independent taxation in 1990, all individuals have been assessed for tax as separate persons. This reform reversed a principle that had underpinned the tax system for almost two hundred years: that a married woman’s income was simply part of her husband’s income, and should be taxed as such.
I'm certain my wife and I had both been working for several years, being taxed independently, before that? But I'm getting old and forgetful so maybe not.
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