Child Benefit Help

Threebabes

HI

Anyone can clear this up for me.

Ive used the online calculator to work out how much we would have to repay.

2012-2013 we have to repay £306.

2013-2014 we have to repay £1224.

Does anyone know when these amounts have to be repaid back to the government?

Thanks

Confused.com

zagfles

End of Jan of the following tax year, ie the normal tax return payment date. Or they might adjust your tax code, but I think this is optional.

watcher13

Have you looked at the work around - additional pension contributions

zagfles

Yes and don't forget to add up and decalre any gift aids.

Threebabes

My husband does pay into pension but they dont have it down as pension on his payslip, its down as something else.

So the £306 will have to be paid by Jan 14, and the £1224 Jan 15?

If he pays it by tax code of his monthly wage, do you pay back the exact amount of do they tax you more?

Thanks

zagfles

Threebabes wrote: »

My husband does pay into pension but they dont have it down as pension on his payslip, its down as something else.

So the £306 will have to be paid by Jan 14, and the £1224 Jan 15?

If he pays it by tax code of his monthly wage, do you pay back the exact amount of do they tax you more?

Thanks

They take a guess as to how much you owe and adjust your tax code accordingly, but they have to guess how much you're going to earn, so it could be wrong and you'll still owe, or they'll owe you, at the end of the year.

What do you mean his pension is down as something else? The important point is whether it reduces his taxable income, have a look at a couple of payslips and see if the pension contribution is deducted from total taxable income, it should be. You might need to compare two payslips and see how the "total taxable to date" figure changes.

xylophone

its down as something else.

??? Superannuation?