Meet the Other Phone. Protection built in.

Meet the Other Phone.
Protection built in.

Buy now

Please or to access all these features

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.

Any payroll people in the know? P60 / P11D question

6 replies

pandafeatures · 14/12/2020 16:59

I've received a letter from HMRC asking whether I need to pay the child benefit charge.

Should the total income in my P60 include my taxable benefits? Or do I need to add those on separately? This is the difference between me needing to pay or not pay the charge so I need to get it right... thanks!

OP posts:
dementedpixie · 14/12/2020 17:02

Have you tried using the calculator online

www.gov.uk/child-benefit-tax-calculator

pandafeatures · 14/12/2020 17:05

Thanks - have used the calculator but I don't know whether my income for the year as per my P60 already includes my taxable benefits (company car) or whether I need to add that I'm separately...

OP posts:
pandafeatures · 14/12/2020 17:05

*add that IN separately

OP posts:
Kazzyhoward · 14/12/2020 17:10

Your P60 won't include benefits declared on the P11d, so yes, you do need to add your P11d benefits to your P60 to get to the "taxable income" figure for child benefit purposes.

BarbaraofSeville · 15/12/2020 07:39

It depends on how your company car is provided by your company.

I have to pay for private use of mine, so I get my normal salary, which is the same whether or not I have a company car, as we don't get a car allowance and then there's a payment deducted for the car.

I then get the p11d, which shows the taxable benefit element of the car, which is used to adjust my tax code.

If you go through the calculator linked above, it should work it out for you, but yes the P60 is your salary without the car and the p11d is the taxable benefit of the car, which effectively increases your salary in relation to whether you're entitled to child benefit. But don't forget that your pension contributions also work in your favour for these purposes.

Eg if your salary is £60k and you pay £5k pa into your pension, but the taxable benefit of your car is £3k, you pay tax and your CB is worked out as if your salary is £58k.

ivfbeenbusy · 15/12/2020 07:48

You need to add your company car allowance - although most allowances are paid via your salary in which in case it would be already captured in your p60. If you have a car and not the allowance that would be shown on your p11d and that would need to be added on separately

New posts on this thread. Refresh page
Please create an account

To comment on this thread you need to create a Mumsnet account.

This thread is closed and is no longer accepting replies. Click here to start a new thread.