Active discussions

Meet the Other Phone. A phone that grows with your child.

Meet the Other Phone.
A phone that grows with your child.

Buy now

Please or to access all these features

Talk
Money matters

Find financial and money-saving discussions including debt and pension chat on our Money forum. If you're looking for ways to make your money to go further, sign up to our Moneysaver emails here.

Original poster

Tax Code

2 replies

AM130674 · 16/03/2024 11:04

So just received my new tax code and deductions for child benefit is wrong 😤 Claim for two children, my salary is £54k, always do self assessment and pay charge.

They are saying my benefit charge for next year is £2,780 (I only receive £2,080) so have changed my tax code to 1057L but online calculator says I pay back £890 for this year.

Plus, the threshold changes in April to £60k, so I won't need to pay charge next tax year, so WTF?!

This is wrong, or have I missed something?

OP posts:
Alainlechat · 16/03/2024 12:06

Hasn't your tax code been reduced by 2780 rather than you being expected to pay back that amount? The extra tax resulting from that change should cover the £890 you owe.

Original poster
AM130674 · 16/03/2024 12:07

But I always pay the charge in full on self assessment, never via my tax code?

OP posts:
New posts on this thread. Refresh page