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Original poster

HICBC self assessment

12 replies

Cyantist · 23/12/2023 20:32

DH and I have just started new jobs and we will now no longer be entitled to child benefit.
As we both earn over the threshold, do we both have to fill in a self assessment or can DH just do it as it would be him who is responsible for paying the tax charge at the end of the year?

OP posts:
Doggymummar · 23/12/2023 20:38

If you are both over the threshold I think it's just the one who claims the money who needs to fill it in.

Bohemond23 · 23/12/2023 20:56

Just don’t claim it. The reason to do self assessment is if the lower earner continues to claim it.

LIZS · 23/12/2023 20:59

It probably won't affect this tax year if you opt out now.

Original poster
Cyantist · 23/12/2023 21:06

LIZS · 23/12/2023 20:59

It probably won't affect this tax year if you opt out now.

I think we’d be entitled to it (or at least something) for the rest of this tax year as we’ve only just started earning the higher amount, so I don’t want to just opt out completely. Though I might do that from next year.
But I thought there were other advantages to still claiming and then just paying it back after.

OP posts:
dementedpixie · 23/12/2023 21:07

Will you both be over £60k?
The highest earner is responsible for paying back any money owed.

LIZS · 23/12/2023 21:10

Only cash flow. All the time you are employed you won't need the ni credits from having a child under 12, but if you stopped working you need to ensure each child is registered for cb. You can register but opt out of receiving payments.

dementedpixie · 23/12/2023 21:12

When dh earned over £60k I claimed CB but opted out of payment. If you're working then the only other benefit is your child getting their NI automatically when they are 16.

Original poster
Cyantist · 23/12/2023 21:25

dementedpixie · 23/12/2023 21:07

Will you both be over £60k?
The highest earner is responsible for paying back any money owed.

DH will be earning over 60k but I won’t be. If it was just my wage as household income I’d still be entitled to some CB, but not the full amount.
I know he will have to pay it back but I just wasn’t sure if I needed to fill in a self assessment too.
Might be easier to just opt out once we get to April but in the meantime I assume only DH has to fill in a self assessment for this year

OP posts:
dementedpixie · 23/12/2023 21:47

Only the highest earner would do the self assessment to pay back CB.

Original poster
Cyantist · 23/12/2023 22:13

Thank you! Saves me a job

OP posts:
Saleralor2004 · 26/12/2023 15:00

Hi All,

Looking for some help regarding Self Assesment on HICB, my P60 has my income at just over £53K so I need to fill in my self assessmeblnt for the first time.
Do I deduct what my pension contributions, share aave and private healthcare costs are?

Thanks

Original poster
Cyantist · 26/12/2023 18:06

@Saleralor2004 you deduct pension contributions but as far as I am aware you can’t deduct anything else (apart from charitable donations)

OP posts:
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