Did you know the effective rate of Tax/NI you pay on your income between £50k-£60k based on having 3 children is 71%!!!
For that additional £10k salary/bonus you pay:
£2901 - HICBC
£4,000 - Income Tax (£10k x 40%)
£200 - NIC - (£10k x 2%)
Total payable - £7,101!!, leaving you just £2,899 in net pay.
This further rises if you have to factor in student loans and more than 3 children.
This issue is on top of the already known issue of it being unfair on families with different level earners. E.g. Family A can earn a total of £98K (£49k each) and still claim child benefit while Family B can earn £70k (£60k & £10k) and are not eligible to claim/or end up with the charge.
Let's see what the next budget brings...?