Help for over 50k child benefit tax plz

[Ilovexmastime35]

Hi there can anyone advise please. I feel like the hmrc try to make everything as difficult as possible.
My husband this year has just gone over 50k earnings. I'm a sahm. No benefits. On the Internet I stumbled across something talking about having to send a self assessment tax form to pay back tax for child benefit. Noone has told us anything about this. Why do we have to do this? I know it's to pay tax on the child benefit but why can't they just adjust his tax code, why does he have to self assess?
Ive had a look but no idea even how to fill the orm in! I believe it's an SA1 form? Thanks

That doesn't matter. The OP may claim it but as she lives with a higher earner the higher earner needs to pay it back via their tax return, whether the child is theirs or not

You may have to pay a tax charge, known as the ‘High Income Child Benefit Charge’, if you have an individual income over £50,000 and either:

• you or your partner get Child Benefit
• someone else gets Child Benefit for a child living with you and they contribute at least an equal amount towards the child’s upkeep

It does not matter if the child living with you is not your own child.

OP, as others have said, you can opt out and register to protect your NIC contributions, however if you only have to repay such a small amount, then it would be worth you continuing to claim it.

The self assessment form is very easy to complete as presumably you only have P60 income, or you would be completing one already, and the CB online caclulator works out how much benefit you have claimed and overpaid.

Any tax that is due can be coded out of the following years income.

Most info is on this link

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

@Imloosingmyshit

Who’s name is child benefit in? If it’s yours, you don’t earn 50k so it’s a non issue...

That's completely wrong by the way!

I actually know someone who wasn't the father to the child and despite breaking up he was landed with a HMRC bill for the years she had been paid child benefit when he earned over the threshold

Can I just clarify - when I said 'opt out' I meant opt out of receiving the payments. I'm still recorded as looking after children for state pension purposes.

Year 2018-2019 i earnt approx 55k topline. By the time the took into account my pension contributions, my shoes for work, my state registration and union fees plus charity contributions i had to pay back £56. Easy form to fill in but has to be done every year. If you forget and the money adds up you could owe thousands so best to keep on top of it

If you are not working you should continue to claim the child benefit in your name, because the National Insurance contributions contribute towards your state pension. However, you don't necessarily need to claim the money. The info should all be on www.gov.uk

A second question, marriage allowance......this was added into my husbands tax code a few years back when I became a sahm. I believe we will also lose this aswell. Do we have to inform them or is this done automatically?

Yes you have to be a basic rate tax payer to claim marriage allowance - if you go over the threshold you can't claim it

Although we don’t receive the money I still make the ‘claim’ so I get my pension credit, so my claim is still ‘live’ but we don’t get the money. This saves having to return it at end of each year which I found a bit of a faff.

We keep my husband's income below £50k by paying into a private pension. We have 4 kids and so we effectively have a marginal tax rate of 70% on income between £50-60k - or put another way, it costs £3k to put £10k in his pension.

We don't have to do a tax return we just write to the revenue each year and explain the extra pension contributions. It's a bit of a faff and annoying and we could do with the extra money as I'm a stay-at-home mum, but I figure I'll be worth it in the long run.

Was this amount based on gross or net income?

You can claim child benefit at nil rate to protect your national insurance contributions.

I earn over 60k so stopped claiming it. Now I think I should have carried on. But don't I get national insurance credits from working anyway? I find it all so confusing!

We keep my husband's income below £50k by paying into a private pension. We have 4 kids and so we effectively have a marginal tax rate of 70% on income between £50-60k - or put another way, it costs £3k to put £10k in his pension.

How do you do this? What's the ammount in AVCs per month? I'd like to do this but I think I need the money

Claim the difference in fuel between what company pays and the government allowance and also WFH allowance now

would anyone be able to signpost me towards more info on this please? I’m not getting far on the HMRC website. I work from home 3 days a week and get 32p a Mile for around 400 miles each month which covers fuel but not the full cost of servicing / wear and tear.

Lots of zombie threads tonight.

I opt out my child benefit. Its too complicated.

You get additional national insurance credits if you claim - it is essential that you claim. My DH earns over £70k and I claim child benefit He has to pay it all back but if I remember correctly if you claim child benefit for at least 10 years you get 5 years ni credits on top of what you’re getting by working.
Yes, DH has to fill in a self assessment which he moans about but I am not moving on this. It is essential that women claim their child benefit. Eleanor Rathbone fought for years to bring in this benefit and for it to be paid to mothers.

It is essential that women claim their child benefit. Eleanor Rathbone fought for years to bring in this benefit and for it to be paid to mothers

Im just terrified of forgetting to do the tax return or doing it wrong and getting a massive fine.