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when to fill in form for child benefit "tax"

(11 Posts)
hilbil21 Wed 13-Jan-16 10:39:56

Morning folks, hopefully put this in the right section!

Can someone help me, my partner earns over £50000 and this is the first time we have ever had to fill in a self assessment for tax (for child benefit).

All I need to know is when is this done? Is it after he's received his P60 or before the end of the financial year?

Thanks

DadDadDad Wed 13-Jan-16 11:41:58

Do you mean, he is earning over £50k for the first time in this current tax year? In that case, he'll get P60 some time after the tax year ends (6 April 2016), then you have until 31 Jan (2017) to do a tax return which will work out the child benefit tax charge. At that point, you can normally get HMRC to charge it by modifying your tax code for the following tax year. So that way, you get the child benefit in tax year Apr 2015 - Apr 2016 and pay it back over tax year Apr 2017 - Apr 2018, which takes away some of the pain.

If he earnt £50k in the year to 6 April 2015, then you should already have a P60 and have two weeks to submit the tax return...

Don't forget, if he's a higher rate taxpayer, he can use his SA to claim back relief on pension contributions and any gift aided donations.

hilbil21 Wed 13-Jan-16 11:52:17

Sorry I didn't explain it very well. He's earned over £50K for quite a while but we only had a baby last year, so this is the first time we have claimed child benefit and in turn the first time we have had to pay tax on it! So he will have till January next year to fill in the self assessment form then?

Thanks again

ReallyTired Wed 13-Jan-16 11:58:20

Was the baby born before 6 April 2015. Does your partner have any earnings other than employment? Unless your partner is self employed or had a portfolio of properties he can do all his tax online without the help of an accountant.

The deadline 31 January after the previous tax year has ended. (Says she polishing her halo for having completed her tax return for 2014/2015.)

hilbil21 Wed 13-Jan-16 12:20:49

He was born 22nd March 2015. Should I fill one in for a week of the last tax year?

DadDadDad Wed 13-Jan-16 12:36:08

If he earned over £50k in tax year ended 5 April 2015, then yes he will need to pay back (some or all) of the CB you received in that tax year (obviously not very much) and the deadline is the end of this month. If there are no other complications to his tax (and the fact you've not done SA up to now suggest that's the case), it may be possible to do this with HMRC without doing SA. It might be worth giving HMRC a call.

DadDadDad Wed 13-Jan-16 12:37:15

I should clarify I'm not a tax expert, just drawing on my own experience of SA, so if any doubt, call HMRC.

hilbil21 Wed 13-Jan-16 12:39:44

Thanks daddaddad will phone them now

ReallyTired Wed 13-Jan-16 12:40:24

I'm afraid that you will have to pay back some of your child benefit. I hope for your sake they are fair and pro rata it.

I hate the benefit charge. Dh worked his arse off and got a bonus and we had a £300 charge as a result.

ReallyTired Wed 13-Jan-16 12:41:52

This link can be used to work out how much child benefit you need to pay back

www.gov.uk/child-benefit-tax-calculator

hilbil21 Wed 13-Jan-16 12:59:20

I think we owe £21 for the last part of 2014/2015..... And OH hasn't even registered for SA yet! Oops! Didn't even think about that week or so! Hope we don't get into trouble shock

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