This financial year my income will come to a bit over £50,000 for the first time, meaning. I am subject to the high income child benefit charge.
I have recently taken an EV car under a salary sacrifice scheme. My understanding is that that will reduce my salary down for the income assessed for child benefit but I don't know by how much. Will it literally be by the amount I pay for the car each month and will this be the gross of net amount? I read something complicated about the car value having an impact.
I don't currently have a pension (I know that's not great!) so would like to put any excess over £50,000 into one for the first time. Is it as simple as just setting one up and adding it in? I believe I can only opt into my work pension scheme at certain points in the year and will do that next financial year.
Finally, I presume private health care does not reduce income for the purpose of the high income child benefit charge but thought I should check as it another salary sacrifice scheme ran by my employer.
Thank you for your help.