How much better or worse off are you after the budget?

[MrPants]

According to this site Chez Pants are just over £200 better off per year. How did your family fare?

Pretty much the same. I work part time and am a low wage earner, so I will benefit from the tax free personal allowance raise, OH isn't a high earner so we will keep child benefit, we don't smoke, OH is 60 so will lose out on the age related allowance for pensions, he is self employed so will pay less corporation tax. The biggie for us will be the increase in petrol duty.

No difference in the bunbaker household.

We're apparently going to be about £350 a year better off in the Jumping household (2 incomes, no kids), and have slightly more again next year and the year after. We're non-smokers and don't drink loads, so the only other thing we'll be directly affected by is the rise in fuel duty.

worse off, basically due to the child benefit (for 3) stopping.

We are going to lose child benefit (sorry not sure of the exact figure. Two kids so about £100 per month?).

But top rate tax is going down so that will benefit us.
Neither DH nor I have a personal allowance, so the increase doesn't affect us.

Is yours being stopped completely Nightlark?

£402 better off?!

£313 better off. I was surprised at that.

We'll be about £250 better off- we gain a bit in tax and lose a bit in fuel.
I also put our total income in just as dh wage to see how that affected us (our joint income is over £50,000 so we're the ones who don't lose out from the unfair bit of the child benefit change) and it came out as being about £250 worse off.

About £250 better off. Two incomes (one high rate - not the 50p one and one basic), one child. Non smokers, occ alcohol but a lot of petrol

Don't understand it says we will be £600 a year worse off but we will now not be getting child benefit at all so that should be £3000 a year at least worse off.

Does anyone actually know how they are going to implement taking the CB away? Apparently I will still receive it but then at the end of the tax year DP will be sent a form and will have to tick a box to say someone in the household receives it then they will take it off him in the next financial year, a bit like reverse child tax credits?

Now he doesn't have to tell me what he earns by law and I don't have to tell him I am claiming CB?

Now where's all these forms going to go to a brand new CB dept, paid for by whom exactly?

Mine is £317 a year better off.

Loosing child benefit for 3 so worse off here

I don't get CB any more as my kids are too old but it strikes me that the way the CB will be administered is akin to taxking the husband on teh wife's income. (ie the CB) I thought that concept was doen away with in 1988.

Biggest loss for us is the £10 per week child tax credit. I'm actually surprised we end up worse off. I had thought the new income tax levels would counter act that :(

Quick question about tax credits. Currently we dont receive them as we're over the income threshold.
When I changed the amount of children to 4 it gives a tax credit limit of over 2k. Surely this is wrong?! Change it to 5(!) children and tax credits is over 5k?!
Think it's broken?!

£1000 pa with the loss of cb and the alteration in the rate threshold. Outwith the budget, £200 per month in a cut to our cost of living overseas allowance, there will be a rise in rent for Married Quarters and garages, the continuing pay freeze, and I expect a rise in Contribution in Lieu of Council Tax. I expect to be £400 pm worse off by January.

I thought we'd be worse off but apparantly we'll be better off. Strange

Worse of as losing child benefit for 2 younger DC. My eldest son who works will be better of because of increase in personal tax allowance.

£411 worse off! Mostly due to losing tax credits and petrol. We're looking to move to a higher rent area in order to be near DH's work and cut our fuel right down. I have no idea where we can find the money to cover that. The tax credits and child benefit (which we won't loose) cover all of our (unplanned) toddler's expenses. oh bum.

600 up but they included Tax credits which we don't get so approx £200 up

Says about £600 better off, will believe it when I see it though.

Dillydollydaydream You get a payment of over £2k per year per child, the new thresholds take how many children you have into account with regards to your entitlement, the more kids you have the higher your earnings can be and still receive TC's, with 4 kids you can earn up to £42k (I think, could be wrong).

"From 7 January 2013, new rules apply if you earn £50,000 or more and receive Child Benefit. You will continue to receive the benefit but will have to pay an additional tax. The calculator shows this as a reduction in Child Benefit received to let you see the change more clearly."

Down £531 - pretty much what I expected

£281 better off apparently, slightly down on car stuff but better off with regards to Tax. We don't really drink and don't smoke.