Child Benefit Query

sternjohn662200

Ive just had a payrise which is great news but for this tax year i predict i will go over the £50k threshold for child benefit when adding in my car bik so will owe money back.

I currently pay into my pension by salary sacrifice so in theory if i was go over the threshold by £1000 then i presume if i add £1000 extra to my pension through salary sacrifice then i will be still be eligible for the full amount.

Know this might seem simple to some but not to me.

Thanks

Funkyfreddy

sternjohn662200 wrote: »

I currently pay into my pension by salary sacrifice so in theory if i was go over the threshold by £1000 then i presume if i add £1000 extra to my pension through salary sacrifice then i will be still be eligible for the full amount.

£1,000 into your workplace pension whether within Salary Sacrifice or not would bring you below the threshold for the Child Benefit charge as would £1,000 into any pension you may have/start elsewhere.

Paul_Herring

I currently pay into my pension by salary sacrifice so in theory if i was go over the threshold by £1000 then i presume if i add £1000 extra to my pension through salary sacrifice then i will be still be eligible for the full amount.

Correct. But is the payrise taking your current pre-sacrifice or post-sacrifice (including car) over £50K?

If the former, but not the latter, then you may already be sacrificing sufficient - it's the latter that counts against CB.

sternjohn662200

Paul_Herring wrote: »

Correct. But is the payrise taking your current pre-sacrifice or post-sacrifice (including car) over £50K?

If the former, but not the latter, then you may already be sacrificing sufficient - it's the latter that counts against CB.

Its the latter so will need to make sure i add the extra to my pension.

Thanks