Dh just had a raise to over cb threshold - what do we have to do?

[museumum]

Dh's January raise we think took him over 50k (hard to work out exactly due to car allowance and childcare vouchers and pension contributions)
Anyway, what do we have to do about child benefit? Do we have to ask them to stop it? Of pay some back?

Thanks.

Go on line and register for self assessment. At the end of the tax year concerned (assuming this is april 2015 so you can prob do it straight away) you fill in your earnings details and they calculate the tax you owe. This will be offset by what you've paid already but will include paying back in tax a proportion of what you received in child benefit, depending on your salary.

Then you can decide whether to pay the tax or ask them to adjust next year's tax code (recommended, always better to have money in the bank).

once he submits a SA is the rest all automatic?

P.s. Thanks

Don't bother trying to tell them you don't want it. My Dh phoned and spoke to three different people and we still keep getting it. They fined him because he didn't fill in his SA because he stupidly assumed he wouldn't have to as he had contacted them so many times. Newsflash dh, if we're still receiving it, you need to do the bloody SA.

Only the person receiving the benefit can stop it. I stopped mine online (dh has the high income). Between 50 and 60K you will get to keep some of it but once you go over 60K you lose all of it.

online.hmrc.gov.uk/shortforms/form/CBOptOut - for those opting out of payment

If it's only slightly over £50k he may as well increase pension contributions to bring his net income down enough to keep all of it.

If you happen to be a SAHM, make sure you're still registered for CB, even if you opt not to receive it - so that you get the National Insurance credit for carer years.

But as the previous poster said, it would be advantageous for your partner to reduce his net adjusted income by paying the extra salary into his pension plan. Then you could carry on receiving CB.

Ok. So:
1 wait for his p60
2 he has to register for and fill out the SA
3 pay whatever due for 2014/15
4 sort out 2015/16 by either increasing pension contributions or by me opting out of cb depending whether he's closer to 50 or 60k (I am s-e and pay NI contribs).
Thanks.

Its still worth you having it as you will get to 'keep' some ( there is a sliding scale up to £60k).
I am in a similar boat, but my earnings in the tax year 14/15 are not affected.
I had understood that as it will affect me for tax year 15/16, I don't need to do anything til the second half of 2016.

Both me and dh in this situation but have worked out that childcare vouchers and pension contribs will take us below the threshold. So does this mean we still register for SA but don't pay? Or that we don't have to register for SA until one of our net incomes is over the threshold. Thanks, sorry for potential tiny derail!

If you can find your CB letter there's a number on it and they can stop it immediately, or on a given date once he's had his first higher pay packet. He'll still need to do a tax return but it does mean you won't needto remember to put anything / much away to pay it back. Good time of year for this to happen really!

I meant call the telephone number on the letter!