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Child benefit and self assessment if not sure of earnings
thecornflake
Posts: 337 Forumite
With the child benefit changes, although my basic salary is under 50k it may possibly go over with overtime and on call payments. Do I need to register for self assessment just in case, as I read that there's a fine of not doing so by October this year if you plan to continue receiving them and may have to pay some back.
Not sure if I can wait and see what earnings are at the end of the year without registering or whether I should anyway just in case.
Not sure if I can wait and see what earnings are at the end of the year without registering or whether I should anyway just in case.
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Comments
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We had a similar problem with tax credits.
As they wont give you the money retrospectively if you find at the end of the year you have earned too much we decided to claim it and if we earn too much we pay it back.
Its the govt presuming everyone has a nice round salary that is the same every month and not based on commission, performance, or results.0 -
TBH I'm thinking about doing self assessment anyway. They always mess up my tax code every year because I have taxable benefits so at least there's more chance of me not paying the wrong amount of tax each time
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