I've filled out a self assessment as I earn over £50k and we still claim child benefit.
I've just had a message to say that I've underpaid tax & will be repaid.
Is the child benefit overpayment calculated at the same time? Can any amount I owe "cancel out" any money owed to me?
I don't want to spend the money (couple of hundred quid) then get a bill later!
I've had a look online but there's no mention of owing money.
Thanks