Child Benefit - High Income Question

focus888

Hi All,

If the total on my P60 is less than £50K does that mean I don't need to pay any tax on the child benefit?
I thought I had to pay some tax, registered for self assessment but there isn't an option to fill anything in and it says i'm all up to date but i'm still doubting it.
I don't really understand about the final salary after pensions deductions and don't want to be fined later on for not paying it now.

Thanks

Dazed_and_C0nfused

focus888 said:

Hi All,

If the total on my P60 is less than £50K does that mean I don't need to pay any tax on the child benefit?
I thought I had to pay some tax, registered for self assessment but there isn't an option to fill anything in and it says i'm all up to date but i'm still doubting it.
I don't really understand about the final salary after pensions deductions and don't want to be fined later on for not paying it now.

Thanks

High Income Child Benefit Charge isn't based on your earnings.

It's your adjusted net income which is important.  

That starts with your total taxable income, so taxable earnings, interest, dividends, pension income, company benefits etc.

So what is the total of all your taxable income you need to declare for 2021:22?

When calculating this you must include all taxable income, even if it's being taxed at 0% like some interest and dividend can be.