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confused with self-assessment and child benefit
xyz123
Posts: 1,671 Forumite
in Cutting tax
hi
Tax year 2012/13 is the first time that i went into 40% income bracket. salaray is through PAYE. I had some minor income from a regular saving account. I got tax certificate and send letter to HMRC declaring the income. am yet to hear back.
today is deadline day for filing tax return. As i understand it, this is for the tax year ended on 4th april 2013. or have i got it horribly wrong!
We are currently receiving child benefit but child was born in May 2013 and any child benefit that i have to give back to HMRC will be in next years tax return which will be due by 31st January 2015.
am i correct in this or do i need to register for this self-assessment for this tax year by today!
ta
Tax year 2012/13 is the first time that i went into 40% income bracket. salaray is through PAYE. I had some minor income from a regular saving account. I got tax certificate and send letter to HMRC declaring the income. am yet to hear back.
today is deadline day for filing tax return. As i understand it, this is for the tax year ended on 4th april 2013. or have i got it horribly wrong!
We are currently receiving child benefit but child was born in May 2013 and any child benefit that i have to give back to HMRC will be in next years tax return which will be due by 31st January 2015.
am i correct in this or do i need to register for this self-assessment for this tax year by today!
ta
0
Comments
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hi
Tax year 2012/13 is the first time that i went into 40% income bracket. salaray is through PAYE. I had some minor income from a regular saving account. I got tax certificate and send letter to HMRC declaring the income. am yet to hear back.
today is deadline day for filing tax return. As i understand it, this is for the tax year ended on 4th april 2013. or have i got it horribly wrong!
We are currently receiving child benefit but child was born in May 2013 and any child benefit that i have to give back to HMRC will be in next years tax return which will be due by 31st January 2015.
am i correct in this or do i need to register for this self-assessment for this tax year by today!
ta
You are correct.
The taxable income level for child benefit charge is £50K
Can you transfer regular savings account into spouce's name?The only thing that is constant is change.0 -
Have you considered making additional pension contributions to reduce your adjusted net income and keep the CB?
http://www.theguardian.com/money/2013/sep/28/child-benefit-pension-contributions-higher-earners0 -
OH already has savings account. will look at additional pension contribution.
glad that i dont have to rush to sort out a tax return today!0 -
OH already has savings account. will look at additional pension contribution.
glad that i dont have to rush to sort out a tax return today!
That would not be a remote possibility so be warned for next year if you have to file one. The registration and activation process will take at least 2 weeks.The only thing that is constant is change.0
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