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Child Benefit and Self Assessment

3 replies

BeeInYourBonnet · 29/03/2015 18:32

I have never had to do a self assessment before and am completely confused by the Gov.UK site!

I have been earning about £52k p.a. (after pension contributions) since December 14. If my pay continues at this level I understand that I will need to pay back a few hundred pounds, following completion of a self assessment form.

Could someone please clarify the dates for this? For the tax year April 14 to Mar 15 I should be fine as my salary was much lower for the first 8m of the year, so my total salary would have been below 50k. But for April 15-Mar 16 I will be over the £50k. So when do I need to do my first self assessment? Is it Oct 15, Oct 16 or some other date Confused

OP posts:
LIZS · 29/03/2015 19:13

Oct 2016 for paper submissions or Jan 2017 online.

trixymalixy · 29/03/2015 19:16

If you do it by Dec 31st then you can have anything you owe taken out of your tax code. Later than that and you have to pay it in a lump sum as I learned the hard way.

Daisy62 · 06/04/2015 22:29

OP, you could look into increasing your pension contribution in the new tax year, to reduce your net adjusted salary so that your child benefit claim is unaffected.

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