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BIK (company car) affecting child benefit

2 replies

Leemoe · 16/01/2023 00:13

I think I may have been a bit short sighted with regards to CB entitlement.

My salary is 47k but my company car and private health are BIK rated over 10K.

Will I lose my entitlement to CB?
Are BIK treated as income for CB?

I have claimed CB in full this tax year as my salary is below the 50K threshold. Will I need to pay it back? Feel like an idiot for not considering this before now tbh.

TIA

OP posts:
OnceAgainWithFeeling · 16/01/2023 07:22

Yes, the value of benefits in kind is taxable income.

You deduct the value of pension contributions.

If the total is between £50k and £60k you repay on a taper. If it’s £60k or over, you repay the lot.

OnceAgainWithFeeling · 16/01/2023 07:22

www.gov.uk/child-benefit-tax-charge

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