NHS pay deal pushing many over £50k

[juleypooly]

Just wondering what this means for child benefit. A quick look on the gov website suggests that we will now have to complete a tax return at the end of the year and pay tax on what we have gone over by? It hardly seems worth the hassle for the £55 per year that I'll be over by? Alternative may be to drop hours (by minutes!) To fall within the £50k again.

Has anyone got experience in this?

@roundcork nhs can’t do that. At £50k you won’t meet the threshold though due to pension payments as it’s salary sacrifice.

It’s pro rata’s and you lose it entirely at £60k. You will lose 55/10000s of your child benefit. The level is also after what you pay into a pension. So if you pay £1000 gross into your pension your earnings would be £49055.

I’ll add, dh earned around £65k last year and we only have to pay back half the cb due to salary sacrifice pension payments. You use the number on your p60. It is a faff though and I’m only doing it because I don’t know whether his earnings will be the same next year.

Ah perfect! Has forgotten about pension! Thanks all

It's easy enough to do. Just remember to save the percentage of child benefit you need to pay back each month and put it in a separate account so you have it when they ask for it back.

Pension payments on £50k for nhs is £490 ish a month so you can minus £5880 and you’ll be well under the threshold.