The High Income Child Benefit Charge has been heavily criticised for the way two-income families, where both earn less than £50,000, are treated compared to a single parent earning more than £50,000.
Explain taxes to a child and the most likely response will be “that’s so unfair”. Adults, on the other hand, grasp that taxation is one half of a social contract: tranches will be taken from their pay packets in order that the government can fulfil its basic functions, keeping us safe and secure and living in freedom.
Parents are facing “insurmountable barriers” to work once they earn more than £100,000 forcing them to cut back working hours to keep hold of childcare perks, according to a new report.