Quote:
Originally Posted by Frenchie
Keeps people in work I guess.
|
You hit the nail on the head there.
The Child Benefit Charge could be calculated with a simple equation :
1. You earn more then the threshold in year 'x'
2. Your entitlement to Child Benefit drops by 10% every £1000 you earn over the threshold
3. Therefore, if you earn £2000 over the threshold then deduct the Child Benefit payments by 20%
4. When you earn £10000 over the threshold you stop receiving Child Benefit.
Simple maths......and a formula that could be applied to the PAYE system / Tax code Notification system in seconds.