Child benefit - can they take this much tax???

Mumsiemoo

Hi. I'm new to this board but hoping for some advice. I've just recieved a revised tax code after filling in my self assessment and it says I owe £1758 in child benefit. Last year I claimed for one child so wouldn't have even been paid that much! This year I'll be claiming for two. (Or won't be claiming if they are just taking it back from me!)
Firstly which year is it taking money for and secondly does that sound right?! Thank you

Mumsiemoo

K318. It includes company car and fuel allowance.

dodger1

Child benefit for one child is £20.30 a week which is £1,055 a year so have no idea how they can say you owe £1,758 the numbers don't make sense. You have to be earning over £50,000 I believe to not get child benefit.

bloolagoon

Mumsiemoo wrote: »

Hi. I'm new to this board but hoping for some advice. I've just recieved a revised tax code after filling in my self assessment and it says I owe £1758 in child benefit. Last year I claimed for one child so wouldn't have even been paid that much! This year I'll be claiming for two. (Or won't be claiming if they are just taking it back from me!)
Firstly which year is it taking money for and secondly does that sound right?! Thank you

Was it a tax code reduction of £1758 (as it only applies to tax paid) or was that the amount.

Mumsiemoo

Bloolagoon I think it is a tax code reduction now I've looked at it. It actually seems to be the company car which has had a bigger impact. I've recently had a bit of a payrise but it means I am now paying loads more for my company car... Does that seem right???? Tax confuses me no end!!!

zagfles

What tax year is the coding notice for? Coding notices don't tell you what you owe, they're usually a guess as to what your benefits/expenses etc will be. If they're not right, tell them.

Mumsiemoo

I don't have a P11d (assume I can get one from my employer?) I have 2012-13 but have a different car now. On the back of the coding notice though it says car benefit is £6883 and fuel £4557.

It is a notice for 2014/15 but to be honest I have no idea if it's right or wrong. I'm actually quite intelligent but tax, company cars and allowances just confuse me!

Mumsiemoo

The £1758 is on the coding notice. (I now think as someone suggested that may be the taxi reduction?)
On the back in the notice it says "we need to collect £703.56 by adjusting your tax code."

northerntwo1

Mumsiemoo wrote: »

The £1758 is on the coding notice. (I now think as someone suggested that may be the taxi reduction?)
On the back in the notice it says "we need to collect £703.56 by adjusting your tax code."

£703 isn't right. It was only jan - march. So £80 a month for 1 child. Did you enter 2 children on your form?

You entered the amount for the year not the 3 months by error by the sounds of it.

zagfles

northerntwo1 wrote: »

£703 isn't right. It was only jan - march. So £80 a month for 1 child. Did you enter 2 children on your form?

You entered the amount for the year not the 3 months by error by the sounds of it.

The coding notice is for the 14/15 tax year.

northerntwo1

zagfles wrote: »

The coding notice is for the 14/15 tax year.

Reclaiming 2011-12. Self assessment for 2012-13 hasn't happened and won't until this time next year.