To be pissed off at the new tax free childcare

[childcarechallenge]

NC for this.

We have two DC in childcare and live in London. I'm starting a new job next month and my salary is 48K, after tax, student loan, childcare costs and tube to work plus a few other generally working expenses (clothes etc) I've worked out that I will take home less than £200 a month.

DH earns a good salary which is good because we almost completely rely on his salary for rent, bills etc. He just received a large bonus which pushes him over 100K which is the new limit for the new tax free childcare scheme from the government.

Essentially, between 100K and 120K after tax, student loan, the loss of his "tax free allowance" which is clawed back over 100K, and the fact that we will not be able to claim £4000 back on our childcare because he is no longer under 100K (This applies to BOTH of us because of his salary) means that of that £20K we are actually only £1800 better off. AIBU to think that this is complete robbery - DH works extremely hard, very long hours (sometimes 70 hour weeks) in a high stress environment and the government seem to take an obscene amount of his salary.

We have an opportunity coming up to move to a lower tax country in a year or so with his job and this just makes me really want to take it, AIBU?

Bobochic you are beginning to sound like a drunken bore picking a fight in a pub.

Maybe you should go to Hong Kong if you have the chance.. . But look at the cost of living there before you just consider taxes....
time.com/money/4193804/hong-kong-least-affordable-city-2016/

Also it isn't just your met salary..you paying ni and pension which builds up.

What, more tax so that the state can waste yet more money?

Bobo what on earth are you on about you're sounding a bit unhinged. I suggest you take your own advice and stop being so rude to everyone. No one gives a shit how much tax you pay for the record.

Rufus I hope you have written your annual thank you letter to the higher rate tax payers? Cor blimey maybe the will teach us how to add up n that if we beg em nicely?!

This thread is amazing.

This thread is tragic. The lack of very basic economic and fiscal understanding is catastrophic. No wonder the government thinks the electorate are stupid.

Bobo, for what it's worth yes, the state does piss all the money up the wall. I agree it's inefficient. But that is not the fault of the poor. It's largely the fault of people in the same salary bracket as the OP and her DP.

Surely support services are symbiotic with business. It doesn't matter how many employees you have if you have a heart attack and no support services exist to help you whats your worth?

If you have a child with the potential,so many have, but there are no teachers to nurture their enthusiasm and expose them to different and varied ideas then where would our future business leaders be?

There's the rub Op. Lots of SAHP cannot actually afford to go to work and lots of people in low paid work face marginal tax rates of 75%+.

I have indeed diana

I am a bit concerned that bobo doesnt seem to have received hers

I did struggle a bit with the stamps to be fair

No wonder the government thinks the electorate are stupid.

And with someone like you as an example? They would be bang on the money.

As someone pointed out, if the OP had an accident and went into a coma she would wipe out that net contribution in a short space of time.

Bobochic pull yourself together man!

I would be happy to be a SAHM, it was a really difficult choice for me whether to go back to work or not. I've left a job during mat leave which didn't pay enough to cover childcare and got a higher paid job that does. It's not a financial services job btw not even close. My old one wasn't either.

I actually thought for most of my mat leave that i wouldn't return to work but i saw this job advert and applied on a whim (it was the deadline for the job on the day i saw the advert so it was a little bit of now or never) and I got the job. Pretty surprising for me tbh

Rufus I hand delivered my annual thanks. I can't for the life of me work out how to fit the letters in the slot at the top of those big red tall things.

Bobo I think you a have a rather simplistic, neo-con approach to economics.

You have every right to want to be a SAHM. It's great that you can. Some women want to but can't afford it and so get trapped in a different way. Lots of people struggle.

Indeed, Dixie.

diana

What??? what???

I left mine under a bush

It was a really big bush

Congratulations on the job. The desire to do this job, the opportunity to further your career etc are things that are much harder to financially quantify. Especially in the short term. Its just not that easy to know whats best to do, especially when little people pull at the heartstrings and you have the significant pressure of responsibility for doing whats right for everyone.

I got told earlier in the thread that I have a "provincial opinion" as I don't live in London. I've worked there for 6 years and apparently can't begin to aspire to a London one!

Rufus ffs. They teach this at economics-for-dumb-Brits classes. A bush is clearly not acceptable. Try a big willow or a patch of dandelions next time. Geeeeez.