High income child benefit charge - could someone just sense check this for me, please?

[JohnnyMcGrathSaysFuckOff]

We have 3 DC and claim child benefit. In the last financial year, my earnings went over the £50k mark, to £55k.

Obviously, I filled out a self assessment tax return. The high income child benefit charge I have to pay has come back at £1400. Does that sound right?

The £55k is my basic pay and includes pension contributions which are taken by my employer but I cannot work out from my pay statements whether I should somehow be deducting those contributions.

From experience, does that amount sound about right or should I look harder before paying?

Have the earnings you put on the self assessment already had the pension deducted?
You pay back 10% per £1000 of pay over £50k. How much CB did you get in total?

Charge is pay minus pension benefits, so this is your first calculation to see if income is above 50k

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

I thought it was only if pension contributions were deducted before tax that you took them off though?

What figure is on your P60? That's after pension contributions and is what your CB is based on.

Do you have a company car or other benefits like private health insurance? That would also affect your CB, but assuming you don't, it's probably too high if your salary is £55k and this is before pension contributions, which would probably wipe out a lot of the amount you have to pay back.

Thanks Barbara. The figure on my P60 is 55,579 but I don't think that can be after pension contributions as my net monthly pay is 3379 so not sure that adds up?

Doesn't sound right to me.
DH earns just over what you do and last year we had to pay back £500ish.

I have 2 children and pay back full amount each year at £1800ish.

Interesting. My DH earns about £55k and has told me we have to pay all of it back now.

@chipsinonehandpieinother

Interesting. My DH earns about £55k and has told me we have to pay all of it back now.

No, only once you reach 60k do you have to pay it all back.

@JohnnyMcGrathSaysFuckOff

Thanks Barbara. The figure on my P60 is 55,579 but I don't think that can be after pension contributions as my net monthly pay is 3379 so not sure that adds up?

It could be right then. Your CB will be about £2.5k or so and on that after pension salary, you'd need to pay back about 55%, which is probably around 1400.

@chipsinonehandpieinother

Interesting. My DH earns about £55k and has told me we have to pay all of it back now.

He's wrong You only pay it all back if an individual earns £60k+

Can I ask when you have to do the self assessment for which period?

We stopped claiming CB a couple of years ago as my DH got a £10k bonus taking over £60k but has since never got that sort of bonus. Still haven't reclaimed but as salary will be around £53 I should, shouldn't I?

If we claim this year, do we just need last P60 figures? I haven't claimed as it seems confusing and don't want to do it wrong.

When earning £65K I only had to pay about £400 by the time pension and childcare vouchers came off. Doesn't sound like you filled in your pension details properly.