MSE News: Child benefit cut to hit 1 million next Monday

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  • zagfleszagfles Forumite
    17.5K Posts
    Part of the Furniture 10,000 Posts Name Dropper Chutzpah Haggler
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    daleos wrote: »
    I have spoken to "Citizens advce", "The money advice service", and "Turn to us.org.uk" all of whom cannot confirm whether or not my share incentive plan counts towards my "Adjustable net income". My local "Tax office" were suggesting it did not. I made a call to "Child benefit HMRC" who simply stated they had not had adequate training to answer my specific question. In the meantime I e-mailed HMRC with my query, however, being impatient I also called them and they stated that it did count towards it. Feeling reassured, I forgot about it until today, when I received a letter from HMRC stating that it did not.:eek: It seems to me that the left arm doesn`t know what the right arm is doing and I do not know where else to turn to get to the bottom of it. Maybe my local MP ?? :mad:
    Is it taxable? If it's not taxable, it won't count as income for the child ben charge. The starting point for ANI is taxable income.
  • edited 28 January 2013 at 12:25PM
    beaglebeagle Forumite
    43 Posts
    edited 28 January 2013 at 12:25PM
    A couple of people have asked about how redundancy payments are taken into consideration when working out your adjusted net income. Can anyone confirm how it works, including if the first non-taxable 30K redundancy payment is included?

    If it's as easy as zagfiles' general comment above , i.e. If it's not taxable, it won't count as income for the child ben charge, then it's nice and easy!

    Cheers.
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