child benefit higher tax band - nothing in budget

[tea1tea2]

AIBU to think with all the rising living cost , child benefit higher tax charge shouldbe moved from £50000 to £75000 something? i am not earning that much but DH does .

Your not rich enough gor Liz to care.

Do people earning 75k really need to claim child benefit? I think it should change so it's fairer across households though.

No. I think that there are better ways to support the cost of children - such as tax breaks on childcare costs.

I also think it should be benchmaked against what I earn and the threshold set at my earnings +£1. 🙄

Frankly, if your husband is earning £75K you can afford your own kids! I’d rather my taxes went on something else.

This should be triple locked with the starting rate for Income Tax and NI 😆
I’m voting for it!

No, I think the child benifit limit staying where it is, and getting eroded by inflation is the right thing.

If they are going to do anything with it, they should look at household taxation for it, but that opens a whole other can of worms that probably shouldn't see the light of day.

And say that as a household where DH is slowly earning more and more, so we are losing CB every year. We don't need the extra cash - it's a nice not a necessary.

wish he was earning that much

There are approximately seventy thousand things I’d place higher on the priority list than giving people earning £75000 more money.

They should change it so it's based on household income not based on an individual earner being over £50k, it's not fair at the moment

Then what does, “AIBU to think with all the rising living cost , child benefit higher tax charge shouldbe moved from £50000 to £75000 something? i am not earning that much but DH does .” mean then? 🤣

It should really be household based not individual. A family with a combined income of 99k from two 49.5k salaries get all the benefit. My partner now earns just above 50 but i dont earn anywhere near that and we are now taxed 🤷🏻‍♀️

I think she means he earns 50, not 75

No. Its too high as it is. No household on more than say 40k should be getting money just because they chose to have
children.

I actually agree. It should be raised. Historically everyone benefitted.

The values of child benefit aren’t massive, and there’s a lot of faff atm sorting out the tax for people between £50k and £60k.

It’s an easy way to ‘give back’ to all working parents against a backdrop of a society where more people have to work, house prices are insane and childcare costs are through the roof.

@testina he is earning 55k so we have to pay back half of the benefit. but my income is basic so we are not high earners and certainly not living the luxury lifestyle.

But if he earns £50K then a move wouldn’t affect him, he gets it anyway.
Not that you can only have a political / fiscal opinion on your own situation.
Whether he’s earning £50K, £75K or somewhere in between, I stand by my view that taxes should heavily support the cost of childcare, not just be cash in the pocket of the top 10% of earners.

tottally agree , it should be based on household income

No pension contributions?
I agree it’s not a luxury lifestyle, but I do think it’s high enough earnings not to expect more money for your choices.

I think it should be based on a household income rather than if either parent earns over that amount.
A single parent may earn £51K and not be eligible but a two parent family with both parents earning £49K would.
It probably could be lowered though, I'd rather more be given to the lowest earners and anyone over 30K get nothing.

Just scrap child benefit altogether.

it’s a ridiculous benefit, always has been. I have kids but earn too much to receive it, but why should people pay tax just for you to receive it because you have kids?

makes absolutely no sense this one

It should be household income. I'm not particularly bothered that we don't receive the benefit but hate unfairness. I know a family where both parents are just under the threshold so their family money is double ours. They get it, we don't.

Changed to household income but reduce it maybe.

Yeah I totally agree with that. A sole earner on 50k supporting a family would struggle

At the moment, he's paying about £5500 in NI. With the reduction in NI, it's going to be nearer £4700 (ish), an increase in income of £800.

Assuming one child, Child benefit is £1133 for the year. He repays half of that, being £566.60.

So you're £233.50 a year up on the deal now.

You don't need child benefit if you earn that much.

Why on earth should the taxpayer give you any money?