we had a member of staff who didn't know that it was possible for high earners to keep tbeir child benefit rather than losing it!
Lol!
(dozers, do fuck off ur a nob m8, Thu 6 Feb 2014, 10:37, 1 reply, 11 years ago)

Whats the cutoff for that? £60k?

( sporters I’m sincerely gratitude to you, Thu 6 Feb 2014, 10:38, Reply)

yer
Starts incurring additional tax charge at 50k, completely obliterated by the tax charge at 60k.

Easy enough to avoid the extra tax charge innit.
(dozers, do fuck off ur a nob m8, Thu 6 Feb 2014, 10:39, Reply)

Yep
Earn less
( sporters I’m sincerely gratitude to you, Thu 6 Feb 2014, 10:40, Reply)

no
That's not what to do.
(dozers, do fuck off ur a nob m8, Thu 6 Feb 2014, 10:41, Reply)

Transfer it to the other parent?

( sporters I’m sincerely gratitude to you, Thu 6 Feb 2014, 10:43, Reply)

no, because the additional tax charge is levied on the parent earning over 50k and is non transferable

(dozers, do fuck off ur a nob m8, Thu 6 Feb 2014, 10:44, Reply)

NO TAX CHAT

( sporters I’m sincerely gratitude to you, Thu 6 Feb 2014, 10:44, Reply)

yer it's a piece of piss to do innit

(dozers, do fuck off ur a nob m8, Thu 6 Feb 2014, 10:46, Reply)

I haven't got a fucking clue

( sporters I’m sincerely gratitude to you, Thu 6 Feb 2014, 10:49, Reply)

duh
Make a gross pension contribution to bring net relevant earnings under the threshold. You also benefit from the increased tax relief.

You thick cunt.
(dozers, do fuck off ur a nob m8, Thu 6 Feb 2014, 10:51, Reply)

Thats me

( sporters I’m sincerely gratitude to you, Thu 6 Feb 2014, 10:52, Reply)

Its easier to earn less than 50k

( sporters I’m sincerely gratitude to you, Thu 6 Feb 2014, 10:52, Reply)

people on 50k don't even need child benefit

(dozers, do fuck off ur a nob m8, Thu 6 Feb 2014, 10:53, Reply)

plus, pension contributions extend your personal allowance by the gross amount so it's a lower personal income tax liability innit me funky nigga

(dozers, do fuck off ur a nob m8, Thu 6 Feb 2014, 10:55, Reply)

You still end up with less money in your pocket though
so you're not actually avoiding it.
(Bazongaloid, Thu 6 Feb 2014, 11:06, Reply)

well, yeah, but it's in a pocket you can access at 55, which is better than giving it to the taxman
Swings and roundabouts eh.
(dozers, do fuck off ur a nob m8, Thu 6 Feb 2014, 11:07, Reply)

also, it's the gross contribution which is taken into account, not the net one, so you're a bit better off

(dozers, do fuck off ur a nob m8, Thu 6 Feb 2014, 11:12, Reply)