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Child Benefit question

3 replies

Nix32 · 13/01/2024 09:58

Can anyone explain when I need to fill in forms re paying back Child Benefit please?

I've had a large payrise which will have tipped me over the £50k threshold. Because of when the payrise took effect, if I fill in forms now, using last year's p60, I'll only have earned @£36. Next year, my earnings will be higher but still under the threshold because of pension contributions. I think it'll be a few years before I actually have to pay anything back so do I still need to fill in forms (self assessment?)?

OP posts:
Williamse31 · 13/01/2024 10:14

There is a calculator online which tells you if you need to do a self assessment for higher income child benefit. I’ve just done mine for 2022/2023 as I went over the £50k very slightly. I now don’t claim it as I earn too much but I’ll still have to do an assessment again next year for the 2023/2024 year as I was still receiving CB for part of the year. They base your salary on adjusted net pay so include things like interest from savings/bonus/dividends so it’s def worth running your figures through the calculator to see but if you’ve only just gone over then unlikely you’ll be affected. As you say they take pension contributions into account so if they take your salary under the £50k you don’t need to generally do a SA

Nix32 · 13/01/2024 14:41

So it works on the financial year - April to April? Will look at the calculator, thank you.

OP posts:
Williamse31 · 13/01/2024 14:59

It does yes

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