Meet the Other Phone. Flexible and made to last.

Meet the Other Phone.
Flexible and made to last.

Buy now

Please or to access all these features

Work

Chat with other users about all things related to working life on our Work forum.

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

New posts on this thread. Refresh page