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Advice needed re child benefit charge

8 replies

childbenefitadvice · 28/05/2023 16:30

For the first time ever I earn over 50K. I claim child benefit but need to pay some of it back. I also need to pay some tax back.

I can't for the life of me figure out how to do this. I registered for self-assessment and have filled in the self-assessment form.

It says I need to pay around £800. I can't understand whether this amount includes overpaid child benefit or is just underpaid tax.

Can anyone advise?

Thank you!

OP posts:
CaptainSeven · 28/05/2023 16:31

How much over £50 and do you pay into pension? Paying into pension reduces the amount that counts.

CatsOnTheChair · 28/05/2023 16:58

How much over 50k do you earn - or more to the point for current tax assessments, did you earn April 2022-2023? And how much of that is actually taxable income? - big things are pension to deduct, and company cars/health insurance to add.

Iirc, there is a tick box somewhere regarding child benifit.

worktired · 28/05/2023 17:25

You may be better ringing them, I had to last year.
Ask them about applying for higher rate tax relief on your pension while you're at it.

PickledPurplePickle · 28/05/2023 17:54

Have you included the child benefit figure on your return?

There should be a calculation page where you can see what is included

childbenefitadvice · 28/05/2023 23:04

CaptainSeven · 28/05/2023 16:31

How much over £50 and do you pay into pension? Paying into pension reduces the amount that counts.

I work for the NHS and just pay into that scheme. The figure on my p60 (total earnings) is after pension and that's what I declared.

OP posts:
childbenefitadvice · 28/05/2023 23:04

PickledPurplePickle · 28/05/2023 17:54

Have you included the child benefit figure on your return?

There should be a calculation page where you can see what is included

Yes they asked me about that and I declared 2 children's worth.

OP posts:
childbenefitadvice · 28/05/2023 23:05

CatsOnTheChair · 28/05/2023 16:58

How much over 50k do you earn - or more to the point for current tax assessments, did you earn April 2022-2023? And how much of that is actually taxable income? - big things are pension to deduct, and company cars/health insurance to add.

Iirc, there is a tick box somewhere regarding child benifit.

It was about 55K after nhs pension. No other deductibles. I think I owed 350 on tax but not sure!

OP posts:
BarbaraofSeville · 29/05/2023 02:37

If your income is £55k after pension than the amount of CB you pay back should be half what you get each year.

There should be an option to repay via PAYE, so that might be the simplest solution. It will probably vary a small amount each month as it all settles down but if you do it this way each year, assuming you'll have a similar income for the next few years, it should work out in time and as long as you keep up with a fairly simple tax return each time you get your P60, you're doing what you need to, to keep on the right side of HMRC.

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