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Advice On High Income Child Benefit Charge

Dominic1234
Posts: 12 Forumite

Good morning,
Hoping some one can give me some guidance on the charge as I find it a mine field and after talking to the tax office being no clearer.
1 - I file my return in April after receiving my p60 from my employer, do we then pay back for the previous years money received?
2 - My tax code for this tax year is 1049L and I have just received a letter stating that it will now go to 982L due to me not paying enough. In this letter it states ‘Less child benefit charge - £2502’ but for a years claiming we received £140 a month which totals £1680. So why am I repaying £2502?
Hoping some one can give me some guidance on the charge as I find it a mine field and after talking to the tax office being no clearer.
1 - I file my return in April after receiving my p60 from my employer, do we then pay back for the previous years money received?
2 - My tax code for this tax year is 1049L and I have just received a letter stating that it will now go to 982L due to me not paying enough. In this letter it states ‘Less child benefit charge - £2502’ but for a years claiming we received £140 a month which totals £1680. So why am I repaying £2502?
3 - In late 2020 I was taking over the £60k threshold and notified the relevant department that we no longer could claim and stopped receiving funds, how long will I have to repay this for?
Thanks
0
Comments
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This is really a taxation question and you will get a better response if you post your question on the Cutting Tax section of the forum here: https://forums.moneysavingexpert.com/post/discussion/cutting-tax"All shall be well, and all shall be well, and all manner of thing shall be well."1
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