One in Five Families to Lose Their Child Benefits

Soon more than one in five families with children are set to lose at least some of their Child Benefit, the IFS warn. This is because the benefit starts to be withdrawn once a family’s income exceeds £50,000 – this threshold has remained unchanged since 2013. If it had been indexed in in line with prices the withdrawal threshold would now be £55.000.

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Don Draper
The IFS and Tax for the Family call to changes to the High Income Child Benefit Charge

The Institute for Fiscal Studies and Tax and the Family have both called for changes to the High Income Child benefit. The IFS say that without a charge to the £50,000 threshold one in five are likely to lose the some of all of their child benefit. Leonard Beighton says that the original intention was that the charge would affect only families in the top15% of the income distribution. The reality, he says, is that the charge affects families far lower in the income distribution but does not affect all those in the top 15%..It also results in some larger families having a marginal tax rate of 82.24%

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Don Draper
Budget 2018

The income tax Personal Allowance is to be increased to £12,500 and the Higher Rate threshold is to go up to £50,000 in April 2019. The Government’s Manifesto commitment to increase the threshold to £12,500 by 2020 is being met a year early. What is there to dislike about that? There is quite a lot actually to dislike!

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Don Draper
Debate on independent Taxation - have we got it right?

The Chartered Institute of Taxation and the Institute for Fiscal studies held a public debate on independent taxation at the Royal Society of Arts House on Tuesday 26th June at 6pm. Speakers were Stuart Adam, Senior Economist, Institute for Fiscal Studies, Fran Bennet Senior Research and Teaching Fellow, University of Oxford, Gillian Wrigley, Low Income Tax Reform Group and Don Draper of Tax and the Family

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Don Draper
Bishops letter to the Times

In a letter to The Times, published on 6 April, sixty Church of England Bishops and other religious leaders called on the Government to scrap the two child benefit cap. Tax and the Family shares the Bishops’ concern and agrees that the Chancellor should reverse his predecessor’s policy on the matter. Read more...

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Don Draper