Europe News

Reduction Of Child Benefits To Create Anomaly In UK society

UK tax authority has decided to stop giving child benefits to persons where one member of the family is earning more than £50,000 in a year. These families are expected to receive letters quite soon from the tax authorities.

Confirming the news, the officials at the tax office said that they are expecting that around 500,000 parents may be included within this law and they may have to fill up self-assessment tax forms for this purpose. The office is expecting a flood of phone calls from the common people in this regard.

Minister of taxation said that the changes will take effect from January and this cost curtail will help the Government a lot in reduction of budgetary deficit. Child benefit in the UK at present is £20.30 a week for the first child and £13.40 for the second child.

Critics say that the new law may create many anomalies as what will happen to those families where both husband and wife are earning £48,000 each in a year.

JIT Mukherjii
After completing his MBA in Financial Management, he decided to shift to writing and took it as his full time career. Being the Editor-in-chief of this web magazine, he has got diverse interest in the field of politics and business related matters.

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