Child Benefit repayment

bryanr

I earned over £60000 in the last tax year and I need to repay the child benefit we received. If we just under £1400 and I paid £1300 in gift aided payments to various charities has anyone any ideas as to how much I will need to repay? Thanks

anselld

https://www.gov.uk/child-benefit-tax-calculator/main

bryanr

Thanks for this. So if I am looking at this right I have to repay the whole sum with no allowance for the charity donations. Does this sound right?

Darksparkle

Depends on the accurate figures, you've only said over £60,000. That could be £60,005 or £65,000. It makes a difference.

What is your adjusted net income? The calculator tells you this.

xylophone

https://www.unbiased.co.uk/news/how-to-avoid-the-child-benefit-tax-charge/1966

Arfa__

In a similar predicament, earning over the £50k threshold, so need to pay a pile back. Despite my other half studying full time and not earning a penny. Of course were we both earning £49,999 each we wouldn't have to pay a penny back.... Grrrrrr!

I'm now sitting doing my self assessment, trying to rack my brains of all the Gift Aid donations we made last year... How does one track all this?! It's everything from the kdis Scouts/Guides, charity shop donations, wildlife memberships, random museums we may have visited and the rest!

The article Xylophone links to makes an interesting point however, by continuing to claim CHB (and paying it back), at least we can avoid the need to make NI payments for my wife until the kids pass 12 years old.

Spidernick

Arfa__ wrote: »

In a similar predicament, earning over the £50k threshold, so need to pay a pile back. Despite my other half studying full time and not earning a penny. Of course were we both earning £49,999 each we wouldn't have to pay a penny back.... Grrrrrr!

People fought long and hard to get independent taxation for women. This is just a quirk of this (and to be pedantic the way the claw back works is that you could each earn £50,099, ignoring deductions, and not have to pay a penny of Child Benefit back).

Would you like to go back to the days of the Wife's Earned Income Allowance, when a married woman could only get the personal allowance if she was working? Hopefully we've come a long way since then!

Arfa__ wrote: »

I'm now sitting doing my self assessment, trying to rack my brains of all the Gift Aid donations we made last year... How does one track all this?! It's everything from the kids' Scouts/Guides, charity shop donations, wildlife memberships, random museums we may have visited and the rest!

Do what I do and have a spreadsheet which updates Gift Aid payments throughout the year, along with interest received. It's hardly revolutionary, but it's amazing the amount of people that cannot be bothered to do this and so can make banks no-go areas in January with the number of people queuing up to find out the interest they need to declare on their latest tax return!

anselld

Arfa__ wrote: »

The article Xylophone links to makes an interesting point however, by continuing to claim CHB (and paying it back), at least we can avoid the need to make NI payments for my wife until the kids pass 12 years old.

You can ask HMRC to stop child benefit but still protect your wife's NI credits.