Child Benefit Payment

Chris88

If you earn over £50k in a tax year you do not get the child benefit payment. However if in single year you are made redundant - if that redundancy payment puts you over the £50k would you be liable to pay benefits back/not be entitled for it following year or does it not count as 'income'

HappyHarry

Chris88 wrote: »

If you earn over £50k in a tax year you do not get the child benefit payment. However if in single year you are made redundant - if that redundancy payment puts you over the £50k would you be liable to pay benefits back/not be entitled for it following year or does it not count as 'income'

The first £30,000 of redundancy payment is non-taxable, and therefore does not count towards income for child benefit assessment.

Just to note, once you have earnings above £50k, then you start to pay back some of the child benefit through your tax return. You don't pay back all the child benefit unless your earnings exceed £60,000.

Kynthia

Make sure you calculated you "adjusted net income" using the calculator on the Gov site. Some people assume it's if their salary exceeds £50k that it begins to impact Child Benefit but it's when your Adjusted Net Income hits that figure and it's usually lower than your salary due to various deductions.