50k Salary and Child Benefits

[HermannlovesPauline]

I’m confused, all help gratefully received.

I am thinking about going back to work full time. I know my pay will be 43k per year which is fine for avoiding the child benefit 50k trap however I get an annual bonus and on average this is 7.5k paid in March.

I understand I can pay more into my pension and keep the child benefit as my wage will be under 50k however how do I work this out?

If you make a 5% pension contribution as a pre tax payment every month, and average 50500 salary, you will easily keep all the child benifit.
Your P60 each year will tell you your taxable pay.

Thank you @PeonyTime I had worked out 5% to be safe (I pay 4% matched by employer on top of their standard 10% at the moment) but was doubting myself

The 5% was a guess.
If you actually pay in 4%, you can earn around 52k before any of the child benefit needs returning.
You do know it's only incremental repayment between 50k and 60k? You dont loose it all until you earn over 60k taxable?

It's around 10% you pay back per extra £1000 over £50K. By the time you reach £60k you pay it all back

You can also put a lump sum in pension if that is easier, just needs to be in same tax year.

Thanks everyone, I’m going to do it I think.

I keep working over my hours and they might as well pay me even if it goes straight into my pension