HMRC - High Income Child Benefit Letter
Discussion
If you earn £50-60k (gross) then I *think* there is a sliding scale for paying additional tax if claiming child benefit e.g: £50k you pay no additional tax but at £60k they will basically claw it all back as tax....I could be wrong but along those lines I believe.
- Disclaimer, I'm not an expert and other factors to consider such as BIK, pension salary sacrifice etc etc that will impact your taxable pay
Edited by VR99 on Friday 3rd December 12:53
Simpo Two said:
Some Gump said:
I think HMRC are having a fit.
They just sent me a letter saying i owe tax from 2018, and i have to pay it by feb 2021.
I had a letter from HMRC saying my tax return was outstanding.They just sent me a letter saying i owe tax from 2018, and i have to pay it by feb 2021.
That's odd because I don't remember sending one in.

deggles said:
Worst "I earn six figs" thread ever. 
Child benefit results in additional taxation from 50k. Wiped out entirely at 60k. No PH thrusting directors required. 
How the earner is supposed to know if someone in the household is claiming child benefit is unclear. Obviously one can ask, but one could be lied to and I’m not sure “the other party told me porky pies” holds up against HMRC investigating for tax fraud.
When you do have kids - claim it even if you're over the income threshold.
I didn't bother, only to realise years later that Mrs CS did not receive NI credits towards the state pension as I didn't bother to claim, even though we would have received zero.
As a result I'm nor paying voluntary NI for those 'missing' years so that she gets a full state pension.
I didn't bother, only to realise years later that Mrs CS did not receive NI credits towards the state pension as I didn't bother to claim, even though we would have received zero.
As a result I'm nor paying voluntary NI for those 'missing' years so that she gets a full state pension.
Carbon Sasquatch said:
As a result I'm nor paying voluntary NI for those 'missing' years so that she gets a full state pension.
You might be cutting off your nose to spite your face somewhat. A year's worth of NIC is about £800 in return for an extra £5.13pw for life of escalating guaranteed income. Money back in three years... PistonHead007 said:
Carbon Sasquatch said:
As a result I'm nor paying voluntary NI for those 'missing' years so that she gets a full state pension.
You might be cutting off your nose to spite your face somewhat. A year's worth of NIC is about £800 in return for an extra £5.13pw for life of escalating guaranteed income. Money back in three years... Gassing Station | Finance | Top of Page | What's New | My Stuff


