Active discussions

Meet the Other Phone. A phone that grows with your child.

Meet the Other Phone.
A phone that grows with your child.

Buy now

Please or to access all these features

Talk
Money matters

Find financial and money-saving discussions including debt and pension chat on our Money forum. If you're looking for ways to make your money to go further, sign up to our Moneysaver emails here.

Original poster

Self Assestment

7 replies

BabyG2004 · 31/01/2019 11:59

Hubby has just received a payrise - letter states his salary is still under the £50,000 mark but he also has the benefit of a company car.
Question 1. Does the company car benefit automatically put him in the higher bracket (over £50,000) so I would need to stop my child benefit?
Just in case it does, I have stopped the CB from Jan this year.
He has now received a letter stating he has to fill out a self assessment form by COB tonight!!!
Question 2. Do we need to look through his previous P60s to see when having the benefit took him over the £50,000 bracket?
I have luckily kept the CB allowance received in a separate bank account so if we need to pay back we can, but it is so confusing.
Sorry if I haven't given the right info. thanks

OP posts:
HollowTalk · 31/01/2019 12:01

He won't be able to complete the forms without a code that HMRC sends by post. That's the first thing he should do, apply for that.

LIZS · 31/01/2019 12:02

SA deadline tonight applies to 2017-18 tax year, ending last April. Unless he had the car before then it should not be required. BIK are shown on p60.

MrsPatmore · 31/01/2019 12:30

Who is the child benefit paid to? If it is you and you earn under £50K then you keep it.

Sunseed · 31/01/2019 12:39

OP do you work and pay NIC? If not then you may want to reinstate the child benefit claim because even though there will be a clawback you will benefit by getting a credit on your NIC record which is important later on for claiming full State Pension.

Original poster
BabyG2004 · 31/01/2019 12:59

He has applied for the code today.
He has had the company car for years but we think that his salary along with the BIK costs have always been below the bracket. It seems only this year it went above by £692.53
Yes the CB is paid to me and I earn below the £50,000 bracket

OP posts:
Badbadbunny · 31/01/2019 15:01

Who is the child benefit paid to? If it is you and you earn under £50K then you keep it.

Completely wrong. Doesn't matter which of you receives it, if either of you earn over the £50k, at least some has to be paid back on their SA return.

BUT, it's not all of it - it's a tapered amount - if his taxable income is only just over £50k then he'll have a small amount to pay back. It's only when his taxable income is £60k or above that it all has to be paid back. I think you may have made a mistake by cancelling your claim.

MissMalice · 31/01/2019 15:04

Do you work? You may want to resume your claim to get your NI stamps if you’re not working.

New posts on this thread. Refresh page