Child benefit payback when earning 50-60k, when will I give it back?

[Notonaschoolnight]

Just that really, so every month we receive £135 of which £35 is ours and the rest I'll have to give back but when will that be? I can't find any info online

Are your registered for Self Assessment ? If so for 2012-13 ie to April this year you submit an online return by end of January 2014, for 2013-14 it would be end of January 2015. You send a cheque for any tax due then. You are too late to do a paper one for 2012-13 now as that deadline is end October.

I am keeping it and then will return it once I get my tax assessment when I'll have to give it all back. My siblings and I who all support our children as single parents or on one wage have this year lost all child benefit for all the cousins - thank you state (not).

After you complete a self-assessment form you'll get a notification of a change to your PAYE tax code and you'll just pay a little more tax each month next year to compensate.

Yes oh registered at the beginning of this year I'm hoping he'll get a letter anytime now saying give us the excess £1200 by the end of jan with an online payment to wherever by a specific date or is that too simple and am I being naive

So instead oh tax code could be altered so they get their £1200 back through wage didn't know that, so confused

He has to complete and submit an online return, which will calculate any extra to pay. Most of the figures come from documents such as P60 and dividend/interest statements but HMRC won't do it for him.

It only covers January to March for the 2012/13 tax year. You can keep the rest.

When does the online return have to be done? And that's with 12/13 p60 info god I really wish we opted out now we're rubbish with anything like this

Would I be right in thinking though that v few of us know

I'd also like to know if we have to pay it back in a lump sum or if DH's tax code will just be adjusted

My DH filled in the online form - he had all of the paperwork needed to fill in the questions but still had difficulty. He called the help line and they assisted him.

Like other tax underpayments he will back it back trough his wages each month.

Online deadline is Jan 31st 2014 for financial year to April 2013 - info here But to pay through tax code adjustment it needs to be in by Dec 30th 2013, and that assumes you owe less than 3k total.

For anyone struggling with tax returns I can highly recommend a bit of software by TaxCalc. You need an HMRC access code and password but it makes online completion ad submission very easy. If anyone is a higher rate tax payer and contributes to charity or makes personal contributions to a pension, there are rebates to be had for declaring both. Worth doing.

Submitted email to have sign up details resent as can't find them,starting to understand it all now want to get it sorted before 31/12 to payback through paye

We've had that too. I'm sure we've told them not to give us the CB anymore but only just noticed its still on the statements. I'm not looking forward now to paying it back.

Im hoping I've got £1000+ saved that I didn't need to but well see, in the meantime while I'm waiting for the new log in details, what paperwork should I get ready to input ie p60?

P60
P11D
Details of any interest earned on savings (not ISAs, obv)
Details of any dividends
Details of any private pension contributions
Details of any Gift Aid payments made
Details of any state benefits received

Oh and any capital gains or other unearned income.

You'll need your P60, P11D (if there are any other expenses/benefits of employment e.g. company car), statements of interest received from banks or building societies, any dividends received, a record of any charity and personal pension contributions, the total of any CB received between January and April 2013 and any other sources of income you might have.

This thread is really helpful, we're about to attempt DH's first self-assessment. Should be fun .

Do check out that TaxCalc if you've never done SA before. I'm not on a commission, honest :)

Fuckity fuck they reckon I've given incorrect info on online form so I'll have to get him to ring, this was another reason we should have just opted out I hate him having responsibility on our finances as he's useless god knows when he'll bother to call them , but in the meantime I'll look for p11d

Deffo opting out asap

If you are not working yourself, then it is better to take the Child Benefit and repay it through your OH's tax code.

That's because you are credited with national insurance contributions for the years that you are getting Child Benefit for an under-16. These count towards your state pension.

Doesn't matter if you're working and paying NI anyway, but if you're not, very important to get child benefit.

Any higher rate tax payer should be completing self-assessment anyway, because they will almost certainly not be paying the right tax.

Can't find p11d we've never had a reason to keep things like this safe so when he rings he'll have to find out how to get a new one!

Have I mentioned how much I hate all this

He can get replacement P60 or P11D from whoever does his wages normally. It's only difficult this year because you've never done SA before but it gets easier. Remember, if you opt out of SA you could be missing out on rebates for pension contribs, gift-aid donations and other things.

That's because you are credited with national insurance contributions for the years that you are getting Child Benefit for an under-16. These count towards your state pension. True but you can still get the NI credits by registering and opting out of receiving payment.