Can I maintain child tax credits by increasing my pension contribution ?

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NdB65

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Post by NdB65 » Fri Mar 20, 2015 2:09 pm
I have had a 4.5% pay increase which takes me into a the high tax bracket. My pension contribution is currently 3%, can i increase this to total 4.5% keeping me in the lower tax bracket and maintaining my child tax credits.
 
 

Lisa Thomas

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Post by Lisa Thomas » Fri Mar 20, 2015 4:49 pm
This is not really an IVA question - it is more a question about tax credits so I'm afriad I cannot answer that but perhaps someone else on here can.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
 
 

plasticdaft

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Post by plasticdaft » Fri Mar 20, 2015 7:58 pm
The 1st question is.....are you an MP? If the answer is yes,then your plan will work. If you are not then chances are it would be seen as a tax avoidance method and be frowned upon by hector!

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Continuing to rebuild our credit worthiness.
 
 

Slowlygoingunder

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Post by Slowlygoingunder » Fri Mar 20, 2015 8:04 pm
Sorry if I offend but don't you think that's being a bit greedy ? We are just over the threshold of 26k for one child and get zero anything apRt from Child benefit , can't have your cake and eat it !
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Slowlygoingunder

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Post by Slowlygoingunder » Fri Mar 20, 2015 8:06 pm
And to add my OH has had to cancel his pension as we can't afford the contribution
IVA accepted 15 April 2015
 
 

lifenoteasy

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Post by lifenoteasy » Sat Mar 21, 2015 10:31 am
It's a pretty insensitive question.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
 
 

Foggy

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Post by Foggy » Sat Mar 21, 2015 10:56 am
I don't think this question was meant for this forum and has been posted in error.
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