AIBU to think that people earning £960 per week don't really need Child Benefit?

[OldGreyWiffleTest]

Well, am I?

I think that while Gorgeous George's (and I AM being sarcastic) tax rate cut for the 50% crew will help to drive investment and cut down avoidance, I think the CB cut off point will have a lot of middle income families fiddling a few grand here and there to stay below the £50k threshold.

But a majority of tax payers will also go on housing costs, wether mortgage or rent.

It doesn't not count just because some goes on shelter and accommodation

26k may be cut off for benefits but some people work which on top thus increasing their total income

Soverylucky, we will lose 10% which won't have an impact on our finances. Losing the full amount for three kids would have done!

@goingtoofast Tell me about it. :(

Minou that can be done by paying more into a private pension, it's probably one of the reasons why the cut is being tapered.

We will lose it. Yes, we are fortunate to earn enough to lose it (DH, anyway) but I am more irritated that CB is MY benefit....and DH's income is nothing to do with them. What if he didn't tell me what he earned? In a previous life, I was a bank manager, and believe me, its actually quite common for couples to have no idea what each other earns.

I am self employed, but earn very little as its a hobby job, so to speak. What happens to my pension? I will lose my protection when we lose CB as I don't earn enough to pay class II NIC.......

What a half arsed answer today. Why should we lose it when people earning way more than use get to keep it? A total shambles if you ask me.

I'm a bit of a financial idiot, goingtoofast...you'll have to explain that as if you're talking to a five-year-old!

"Outgoings have nothing to do with it, scuzy. I hate all this "DH earns £300K pa and yet we are still hard done by" nonsense as if someone is forcing you to spend all your money on 5 holidays a year, first class seats on planes and private school fees. FFS."

Ha ha

DH earns £42K BEFORE tax. He doesn't bring anything like that home after the tax man has taken his share. And I'm not complaining about paying tax, I am a big advocate of the welfare state. But don't assume that we are cash rich, either. Five holidays a year? We scrape and save for ONE week away. Private schools? Again: LOL.

But surely if you are a higher earner you have more choice as to what that £20 goes on?

Maybe skiing lessons for Tybalt for some families or paying the electric meter for others- which is more important?

I always liked the strong principle behind CB that it was a universal benefit for all mothers to ensure all mothers had money that was their own, and they were not dependent on others to give to them. Something very feminist and pro-women about it.

But I certainly can't complain about not receiving it - there are many many many more people in far far greater need than me - in fact I have no day to day need for it, I have been putting it away for university fees, which is a bonus for my kids really. So I accept its loss though lament the loss of the pro-mother principle.

But crazy for it not to have been taxed, which would have been a much simpler and fairer way to solve this problem and avoid all the issues with one person and two person earning households being treated differently.

Well that's just below the £50,000 pa threshold if you are talking before tax.

Where would you put the cut-off point then? Somewhere above your salary no doubt.

Tell me why a couple earning £45,000 each get to keep it?

Same here, Bupcakes.
Just been thinking - maybe there should be, for people who lose CB, a few years of a token payment that goes directly into NI.

Oh God, I really don't want to be an apologist for HR taxpayers- but seriously - ski-ing lessons? 5 holidays? private schools? We're a single earner HR family (and yes, it's ace that we can afford to do that, and yes, I'm not complaining about CB and tax), but it really doesn't pay for all that stuff at the cut off point for HR at all. we have a nice life, don't get me wrong, and can eat and heat, but we don't have gold taps & shit...

Olgaga, most people will agree that there does come a point at which you'd be happy to let CB go because it will make little material difference, and of course it's going to be above what you already earn, because if it was below or just at what you earn, you'd lose money that you need.

But yy, essentially if you can put it into savings, then you don't need it. Which is just about the case for us.

Who are these fabled people who go skiing five times a year?
On gold skis.....

It's a steep taper from the bottom of the HR tax zone to the top, I think.

habbibu right with ya. We are a single earner HR family too and we holiday at a family members B&B........we have a nice life, we eat and heat too. I have no real issue with losing CB as there are people out there who need it more than us. I'm just pissed off at how its been done. No answers on pensions, no answers why a couple earning significantly more than the cut off between them keep it. Its unfair, and that's what bugs me more.

I always said to DH if they need to cut it, pay it for the first child only. No more after that.

"I always liked the strong principle behind CB that it was a universal benefit for all mothers to ensure all mothers had money that was their own."

CB always used to be argued that it should be for all families because if women were "kept short" by their DH or there was DV there was virtually no support to escape from that situation. I know it is hard for many women to leave an abusive DH, but there is lots of support out there now.