Child Benefit - Letter From The Tax Office?
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Child Benefit - Letter From The Tax Office?
I was wondering if anyone on SNet in the same situation has had the letter from HMRC explaining child benefit?
We are currently receiving child benefit for our little boy but under the proposed changes commencing the 7th January 2013 we should probably be expecting to get either a reduced amount or none dependent on earnings. The wife's income is below the £50k threshold, but I'll be over despite salary sacrifice arrangements for pension, childcare vouchers etc.
I think the idea is that if you carry on claiming child benefit then they'll claw it back from you through taxation. However it was my understanding that HMRC were supposed to be sending out a letter to everyone who may be effected. I've yet to receive one.
I'm thinking that as of the 7th I'll transfer the child benefit into a savings account and not touch it. That way if they ever try to get it back we have the money but if not then well who's to say really
Whole thing is a massive **** up on the government's part really
We are currently receiving child benefit for our little boy but under the proposed changes commencing the 7th January 2013 we should probably be expecting to get either a reduced amount or none dependent on earnings. The wife's income is below the £50k threshold, but I'll be over despite salary sacrifice arrangements for pension, childcare vouchers etc.
I think the idea is that if you carry on claiming child benefit then they'll claw it back from you through taxation. However it was my understanding that HMRC were supposed to be sending out a letter to everyone who may be effected. I've yet to receive one.
I'm thinking that as of the 7th I'll transfer the child benefit into a savings account and not touch it. That way if they ever try to get it back we have the money but if not then well who's to say really
Whole thing is a massive **** up on the government's part really
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You'll get little sympathy on here if you're earning £50k+ ... imho though every parent should get child benefit regardless for "doing their bit" to support the old farts of the future. Those bitchin about it should remember that if people suddenly stopped having children the human race would disappear within 100 years.
TX.
TX.
#6
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I've had a letter asking me to go online and fill something out. But the wife won't tell me what she earns, nor if she's in receipt of child benefit, so I don't know what to do?
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#8
Yes I've got one. I believe all high income tax payers should get the letter.
If you decide to keep it you need to register for Self Assessment by 6th Oct 2013. If you decide to stop it there is a website you can go to. So you kinda need to decide by 7th Jan what you want to do (though you have a further delay until 6th Oct if you are going down the self assessment route).
If you decide to keep it you need to register for Self Assessment by 6th Oct 2013. If you decide to stop it there is a website you can go to. So you kinda need to decide by 7th Jan what you want to do (though you have a further delay until 6th Oct if you are going down the self assessment route).
#10
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You'll get little sympathy on here if you're earning £50k+ ... imho though every parent should get child benefit regardless for "doing their bit" to support the old farts of the future. Those bitchin about it should remember that if people suddenly stopped having children the human race would disappear within 100 years.
TX.
TX.
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You're right I don't need it, but up until the 7th Jan I, or at least I should say my wife who coincidently earns much less than £50k, are entitled to claim it.
I've been paying my tax and NI for the last twenty odd years, no harm in getting a little back. Not like I'm claiming the dole now is it
Anyway if they can't coordinate themselves to send me a letter don't see why I should do anything about it. They can do the chasing
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If either you or your wife earn over £50k then you won't get all of that, earn over £60k and it drops to nothing. Ridiculous though it seems if both you and the wife earn £49,999 a year (i.e. combined income ~£100k) then you can claim the full amount
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You'll get little sympathy on here if you're earning £50k+ ... imho though every parent should get child benefit regardless for "doing their bit" to support the old farts of the future. Those bitchin about it should remember that if people suddenly stopped having children the human race would disappear within 100 years.
TX.
TX.
#17
Wife got her letter a couple of weeks back and has filled out the online form to tell them to shove the benefit back to some pauper that really needs it.
We only used it to put towards the running of the Porsche.
I'm now going to have to do a few more cash in hand jobs to run the bloody thing now!
The Government really don't think these things through, do they?
I mean, another year or so of benefit and I'd almost have enough for a new car.
We only used it to put towards the running of the Porsche.
I'm now going to have to do a few more cash in hand jobs to run the bloody thing now!
The Government really don't think these things through, do they?
I mean, another year or so of benefit and I'd almost have enough for a new car.
#18
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Wife got her letter a couple of weeks back and has filled out the online form to tell them to shove the benefit back to some pauper that really needs it.
We only used it to put towards the running of the Porsche.
I'm now going to have to do a few more cash in hand jobs to run the bloody thing now!
The Government really don't think these things through, do they?
I mean, another year or so of benefit and I'd almost have enough for a new car.
We only used it to put towards the running of the Porsche.
I'm now going to have to do a few more cash in hand jobs to run the bloody thing now!
The Government really don't think these things through, do they?
I mean, another year or so of benefit and I'd almost have enough for a new car.
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Wife got her letter a couple of weeks back and has filled out the online form to tell them to shove the benefit back to some pauper that really needs it.
We only used it to put towards the running of the Porsche.
I'm now going to have to do a few more cash in hand jobs to run the bloody thing now!
The Government really don't think these things through, do they?
I mean, another year or so of benefit and I'd almost have enough for a new car.
We only used it to put towards the running of the Porsche.
I'm now going to have to do a few more cash in hand jobs to run the bloody thing now!
The Government really don't think these things through, do they?
I mean, another year or so of benefit and I'd almost have enough for a new car.
#20
We got the letter, I can see why but it still rankles that people with two 50k salaries, using two tax allowances can keep every penny.
My basic is just below the threshold but car allowance, call out, bonus etc push me nearer to 60k, we can do without it but I will have to find £188.40 a month, nobody will starve but it is just another kick in the bollocks for working hard, doing exams and taking risks, now, for every penny between 50 and 60k I will effectively, compared to before be taxed at 73p in the pound.
We have three kids and life is expensive, we would be loaded if we didnt have kids, we had kids and assumed that this benefit, actually a tax break when you are in work was a given but it has been clawed back, it means I cancel my direct debit to the Red Cross and spend less.
We are lucky, though we have lived hand to mouth in the past, we dont have a mortgage, the minute we start making some headway and have some spare cash at the end of the month the devil pisses in my kettle once again, I know there are a lot much worse off so I cant get to aggreived about losing it but want to see saving made elsewhere, big companies not paying tax, foreign aid, immigation and the fact this has been done badly because it is too hard to collect household income, they seem to manage for the tax credits ?
My basic is just below the threshold but car allowance, call out, bonus etc push me nearer to 60k, we can do without it but I will have to find £188.40 a month, nobody will starve but it is just another kick in the bollocks for working hard, doing exams and taking risks, now, for every penny between 50 and 60k I will effectively, compared to before be taxed at 73p in the pound.
We have three kids and life is expensive, we would be loaded if we didnt have kids, we had kids and assumed that this benefit, actually a tax break when you are in work was a given but it has been clawed back, it means I cancel my direct debit to the Red Cross and spend less.
We are lucky, though we have lived hand to mouth in the past, we dont have a mortgage, the minute we start making some headway and have some spare cash at the end of the month the devil pisses in my kettle once again, I know there are a lot much worse off so I cant get to aggreived about losing it but want to see saving made elsewhere, big companies not paying tax, foreign aid, immigation and the fact this has been done badly because it is too hard to collect household income, they seem to manage for the tax credits ?
#22
Will have to make up the shortfall if I start going overdrawn,, £188 doesnt sound like a big hole but after bills of a grand, Shopping, perhaps £600, clothing, fuel and other car expenses, house repairs, school stuff etc etc it is a big chunk of what would normally be left, the oven conked out the other week so that was £400, then Christmas presents etc so running on empty now, and that is with an extra £188 this month.
#26
I am going to take a weeks holiday additional so 30 days instead of 20 so will lose a whole weeks worth of wages, but I wont have to pay tax at 40 percent, I wont lose the CB on it, I wont have to pay NI or pension on it either but it wont be like losing 1 52 nd of my salary as it makes no difference to car allowance, bonus, call out or anything else we get, so, the theory is I get a weeks holiday and it costs me about £200.
I do the cycle to work scheme, that is a grand spread over 18 months so thinkign that will reduce my salary as it comes off before tax.
I pay five percent into the pension scheme at work, I can pay seven but my understanding only salary sacrifice schemes work for that.
Other than that, suck it up and get on with it.
Last edited by J4CKO; 17 December 2012 at 10:48 PM.
#28
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I'm not saying what the Government are doing is necessarily wrong, the country is broke thanks to the last lot of jokers that were in power, so we need to claw the money back somehow. It's the way it's being managed that's a joke. The should just scrap child benefit altogether and roll it into the tax credits thing which is means tested so the poor get the most money for their childcare and the rich get less or none.
I can manage without it, it was a nice little extra thing to have, help soften the blow of £6k+ a year we pay in childcare so the wife can work, but never mind.
I won't end up with a heavy bill as if I continue to get child benefit it will be stashed away until they do chase me for it.
Unfortunately I've also done as much as I can in terms of reducing my declared income to HMRC, I do salary sacrifice for my pension (11%), share scheme (2%), and child care vouchers (£124/mnth) but by the time my car allowance and bonus (hopefully) are added I'd still be over. I don't want to put any more into pensions so if there is any other way I'd be interested in hearing it
#30