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Child benefit higher tax

2 replies

storminabuttercup · 30/01/2025 18:50

I'm sure there is an answer to this online but I'm struggling to make sense of it

I got a decent pay rise this year taking me to 56k I also got around 5k in bonus

I pay 12% of my wages into my company pension.

I can't work out if I have to fill out a tax assessment or not I've seen different types of contributions mentioned and I'm so confused

Id appreciate any help please

OP posts:
SuperSaint · 30/01/2025 19:17

I have just done a self assessment for the first time for the child benefit charge. Self assessments now are for 2023/2024 so it depends what you earned in that year rather than now.

If you earned over £50,000 after pension contributions are deducted you will have to do a self assessment. Check your P60.as that is the figure you use (assuming you don't have any other income).

For 2024/2025 the limit has increased so you have to be earning over £60,000 before you need to do a self assessment.

I hope that makes sense.

storminabuttercup · 30/01/2025 19:39

It does thank you ☺️

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