Child Benefit

[d000hg]

The top 1% of earners on £150k+ does not equate to squeezing the middle classes. They are a special class of their own.

[psychocandy]

Lol.

That, or he's sold them.

Or hired them out as slaves?

[psychocandy]

Are you mad? I dont even pay myself enough to hit the 40% bracket. Like hell am I paying more tax.

Of course, I do split dividends with the mrs. But, if we went over 40% I'd stop when we both got to within 10p of the limit.

All about income planning. No point taking it out of the company if you pay shedloads more tax on it.

[rootsnall]

Are you mad? I dont even pay myself enough to hit the 40% bracket. Like hell am I paying more tax.

Of course, I do split dividends with the mrs. But, if we went over 40% I'd stop when we both got to within 10p of the limit.

All about income planning. No point taking it out of the company if you pay shedloads more tax on it.

So what are you doing with the money in the company ?

[psychocandy]

So what are you doing with the money in the company ?

Taking it out up to 40% bracket. Like I said pretty much split between me and mrs.

Leave the rest there - otherwise its 40% to pay. Or pay some of into pension. Not that there a huge amount - rate is decidedly average....

I can live OK on £85K between us LOL.

[vetran]

I was actually highlighting this :

Research by Oriel Securities shows the 3.7million who earned more than £35,000 and pay 40 per cent tax, hand over £57billion in tax, 34 per cent of the total.

The lower-earning 50 per cent pay £17bn – less than the housing benefit bill.

Overall, 90 per cent of all income tax is paid by half the working population.

About 3.7m people earn between £35,000 and £150,000, placing them in the bracket that pays the 40 per cent income tax rate. Collectively they pay £57bn in income tax, about 34 per cent of the total.

As the top 1% are slowly mitigating their tax there is only one place to get the tax from.

[Waldorf]

We should be making the tax rules much simpler to use and operate, flat rate tax bands, cut out the various allowances and reliefs and then everyone knows what they have to pay.

There is not enough money, we have to start living within our means, that means all of us, companies, government, councils, the people.

[AtW]

As neither of us are higher rate tax payers we have to endure the shame of being 'benefit claimants'.

But you do blame Thatcher for that, right?

[Butcheroo]

Child Benefit

I agree with this policy. The top 10% shouldn't get child tax credit they should not need it. Pensioners should also be means tested for winter fuel etc. although I appreciate the system needed to run that would negate any savings. This is what folk don't understand when they moan about this benefit only being measured on One salary. Imagine how difficult the admin would be trying to work out household income. When people moan about what if my neighbours both earn £49k a year they keep it I think yeh and how many blokes missus earn £49k a year

Oh apart from most on here of course in good old Divs. yipee.

[Old Hack]

I agree with this policy. The top 10% shouldn't get child tax credit they should not need it. Pensioners should also be means tested for winter fuel etc. although I appreciate the system needed to run that would negate any savings. This is what folk don't understand when they moan about this benefit only being measured on One salary. Imagine how difficult the admin would be trying to work out household income. When people moan about what if my neighbours both earn £49k a year they keep it I think yeh and how many blokes missus earn £49k a year

Oh apart from most on here of course in good old Divs. yipee.

Indeed.

Also, the French meaure household income quite easily. They get you to do it, and send the Gendarmerie around if you try and diddle it, but household income is how you're taxed.