Net Adjusted Income Calculation for Child Benefit

CWil1

Hi,
It has been brought to my attention that following a wage rise I may no longer be entitled to child benefit for my 2 children.
Currently I live with my partner who earns approx. £35000 and she has claimed the full entitlement for child benefit.
I have now had a promotion and earn approx. £45000 per annum, and received an annual bonus of £4500 however I am having trouble calculating my net adjusted income. I pay from salary sacrifice 4% towards a pension and get the maximum £243 per month childcare vouchers. I also have a company car which is taxed at £6170 from my personal allowance, and also repay my student loan at approx. £150 per month.


From my reading on the subject I am confused how to calculate my net adjusted income and in particular if the company car and student loan effects this


Can anyone advise if we will be entitled as I am extremely worried I will need to repay any overpayment.

calcotti

Perhaps this will help https://www.gov.uk/guidance/adjusted-net-income

xylophone

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

If necessary, consider increasing pension contributions?

https://adviser.royallondon.com/technical-central/pensions/state-benefits-pension-manuals/child-benefit-avoiding-the-tax-charge/

CWil1

Thanks for the info , I have seen this before but the main issue that I cant find is how the company car effects it. It doesn't appear anywhere in the information

calcotti

I would infer the taxable value of the company car is £6170 and this amount should be included as part of your gross income. However I don’t know that this is correct, others may be able to confirm.

xylophone

https://www.theguardian.com/money/2012/nov/16/beat-taxman-keep-child-benefit

http://www.taxclever.co.uk/adjusted-net-income.html

https://www.telegraph.co.uk/money/ask-a-money-expert/ask-an-expert-can-i-offset-my-50k-wage-with-childcare-vouchers-a/

Above might help - have you input your figures into the calculator in 3 above?