Child Benefit pmts 24 November 2022 at 11:28AM in Benefits & tax credits 2 replies 81 views

ourfamily3

Why is child Benefit so confusing. Since Martin's TV show, really really scared &  worried. Husband started to earn 50,159k Gross, found info today since mid April 2021. But staff get one-off bonus each year, London allowance outer,  &car benefit.  Not sure those bits on top of the 50,159.  I don't understand what is taxable . As before was earning 47k still with above add-ons.   (I gave up 17 yr job last year)
Do I need a finance advisor? Or easier than am fretting about.
Thanks in advance    

The rule is so odd. Emaple..... You can get a couple earning 45k each & be ok yet one person over 50k penalised, v.odd.

calcotti

ourfamily3 said:

The rule is so odd. Emaple..... You can get a couple earning 45k each & be ok yet one person over 50k penalised, v.odd.

A criticism that was made many times when George Osborne brought in this tax in 2013.

sheramber

His salary, car benefit, bonus and London allowance are all taxable, and are added together to get final income figure.

Any pension payments he makes may be deducted, depending on how they are paid.

The system only considering one salary over £50.000 rather than combined incomes  has been criticised since it came in, but that is the way the government designed it.