We put the money in their childrens ISA's.
I know of contractors paying themselves minimum wage and claiming working tax credits. All legal if morally questionable.
I see no problem with any approach
- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
Reply to: Child benefit
Collapse
You are not logged in or you do not have permission to access this page. This could be due to one of several reasons:
- You are not logged in. If you are already registered, fill in the form below to log in, or follow the "Sign Up" link to register a new account.
- You may not have sufficient privileges to access this page. Are you trying to edit someone else's post, access administrative features or some other privileged system?
- If you are trying to post, the administrator may have disabled your account, or it may be awaiting activation.
Logging in...
Previously on "Child benefit"
Collapse
-
Originally posted by d000hg View PostThey're both loony fringe, one just has better PR.
Considering UKIP frequently count perfectly legal EU citizens into their 'illegal immigrant' figures, they're really not too far off from the BNP. They're about quite a bit more (unpleasant stuff) than just wanting out of the EU.
Bit off-topic though.Last edited by formant; 7 December 2012, 11:40.
Leave a comment:
-
Child benefit
Originally posted by d000hg View PostFor a 1-man company like a contractor it is, well not a scam, but a loophole. I thought the idea of this was that in small businesses, both partners end up involved whether they wanted to be or not. I can certainly see this being banned for PSCs.
.
Leave a comment:
-
Originally posted by eek View PostScam? Its been around since the 1930's and I think it only appeared then because prior to that a wife's income was deemed to be the man's.
Originally posted by StopTheEarthIwantToGetOff View PostWhy have you placed the BNP and UKIP in same sentence like that? Your sentence encourages a belief that the two parties are similar in nature. I can assure you they are not. One is a party run by racist facists (BNP) and the other is a party run by people of all creeds, that want the UK out of the EU.
Leave a comment:
-
Originally posted by eek View PostScam? Its been around since the 1930's and I think it only appeared then because prior to that a wife's income was deemed to be the man's.
I'm currently having a rest from contracting so haven't been keeping up with things, whats the current status of S660 ?
Leave a comment:
-
Originally posted by mudskipper View PostWell, on the same basis I could have taken no divvies and got a full maintenance grant for my daughter to go to Uni.
But that, to me, felt "immoral" (i.e. wrong) and I didn't do it.
I suspect your average man on the street would consider it "immoral" that a contractor earning > 60K a year continues to get child benefit.
But in this case I'm not changing what I already do - it's just how it panned out. Still feels wrong though. I expect I'll get over it.
I find it immoral that we all fund a benefit system that simply doesn't benefit us all. In countries like Germany you pay higher taxes/social security but if you then lose you're job you're not completely screwed, as you'll get roughly 70% of your previous income for a year - it's a safety net for everyone, not just for those at the very bottom. Here you get 71 quid a week on contributions based jobseekers. Other benefits are only available to those households with no working family members. :-/
I mean, I'm glad I made it to a point where £20/week in child benefit doesn't actually matter - but I certainly care about the implications of this.
I think you shouldn't worry too much about this.
The maintenance grant is a very different cut-off though as far as I'm aware, which may be going to slightly excessive lengths if you try to claim that anyway. Nothing wrong with that though. Your taxes already funded that, too.
Leave a comment:
-
Originally posted by rootsnall View PostAhhhh ! Good thinking batman. Forgetting the old spouse and 50/50 shareholder scam.
Leave a comment:
-
Originally posted by escapeUK View PostDonate it to the BNP or UKIP and write to your locale MP to tell them you are doing so.
Don't work for Rochdale council do you?
Leave a comment:
-
Originally posted by rootsnall View Post??? 50K paid out in salary/divis, 40K into a pension ( any more would be daft now ), where's the other 50K going ?
Leave a comment:
-
Originally posted by eek View PostYou should organise your corporate and personal affairs better. I think I would need to legally draw roughly £140,000 a year from my company before I would be hit by the child benefit rules.
Leave a comment:
-
Child benefit
It's only temporary until you head to the states. Then it'll be the $70,000 health care bill you complain about
Leave a comment:
-
Originally posted by mudskipper View PostWell, on the same basis I could have taken no divvies and got a full maintenance grant for my daughter to go to Uni.
But that, to me, felt "immoral" (i.e. wrong) and I didn't do it.
I suspect your average man on the street would consider it "immoral" that a contractor earning > 60K a year continues to get child benefit.
But in this case I'm not changing what I already do - it's just how it panned out. Still feels wrong though. I expect I'll get over it.
Leave a comment:
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Leave a comment: