Pay rise now tips DH to almost 60k, does this mean we need to pay all this year's child benefit back?

[Dotte]

So we find out now that due to silly amounts of overtime now available DH will earn almost 60k this tax year. With more than 2 DC the total amount of CB paid so far this tax year doesn't feel like a small amount. I'm assuming we'll need to pay all CB paid in this tax year?

I'm terrifying myself reading scare stories of people having to pay it back in one go. I'm wondering if the over time is all going to be worth the while...depending how much we have to pay back per month we potentially will be actually worse off, at least initially.

Yes it's crap.

You can stop claiming now so that the repayment isn't as much. There's a form prob online.

Then when you do a self assessment for 18/19 you can usually ask for it to be taken from PAYE 19/20 if you don't want to pay in one go.

Ah ok, thank you. Even paid over 12 months it's a fairly grim amount. I know freinds who have moaned (3+ kids) at the 60k point but thier DH's have been able to keep going with pay rises so it's all become worthwhile. I'm not sure it will be the same for DH, we might be stuck here for some time.

You only pay it all back if You reach £60k. Between 50 and 60k you pay a proportion back

Its £60k taxable pay - ie after pension or childcare vouchers etc are deducted. What a lot of people in this pay bracket are doing is putting the extra money into a pension to then get tax relief on the pension and keep their child benefit. So I would look into that option before stopping claiming, particularly if you think he will be at a similar rate of pay for a while.

I will look into the pension idea, thank you. My work fits around school hours so there are no childcare vouchers.