Quote:
Originally Posted by Wayfair
So couples who earn just under the 40% are exempt even though they could have a joint income of £70,000?
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In fact it is a joint income of nearly ninety-thousand pounds.
---------- Post added at 11:05 ---------- Previous post was at 10:31 ----------
I have a project manager who is due a raise. It will take him just over the high rate tax bracket. He and his wife have four children, one is at infant school, the second eldest is at nursery and the twins, who were born in April, are quite obviously at home being cared for by their mother. The raise he will have will bring him to about forty-five thousand pounds a year including the BIK values. It represents a raise of about three thousand pounds a year. A welcome addition to his income, now that he has a bigger than expected family. Now, he will lose over three thousand pounds a year in child benefit. He will be better off not having a raise at all. On the other hand, I have another PM who earns a little bit less; about forty thousand pounds and he is married to deputy headteacher who works in a junior school, she earns approximately thirty three thousand pounds and they three children, giving them a joint income of seventy-three thousand pounds a year. They get to keep their child benefit although, together, they earn more money than the first PM and his wife. Where is the fairness in that?