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Child Benefit query for tax return
Sillychuckie
Posts: 1,218 Forumite
Apologies if this has been asked before. (I did try to search)...
Hello. I have one child, aged 8 (so have been receiving child tax credits for them for many years).
I'm a high rate tax payer, so each year on my tax return, I click the box which says:
Enter the number of children you and your partner got Child Benefit payments for Tax Year 6 April 2022 to 5 April 2023:
> 1
Did you get Child Benefit payments for the whole Tax Year 6 April 2022 to 5 April 2023 for every child?
> Yes
Total amount of Child Benefit you and your partner got for the year to 5th April 2023: [calculated]
> £1133
However, when I actually check my bank account, we only ever receive as an automated credit, a monthly sum of £87.20.
I know the £1133 figure is based on a weekly amount of £21.80 (for eldest/single child, this tax year), and indeed £21.80 x 52 = £1133.60
But I don't understand why I don't actually receive something closer to (£1133.60 / 12) per month, which should be £94.41 instead of the £87.20 I get.
- In every tax year this figure seems off.
- In every tax year, my actual receipts are lower than the amount on the Tax Return.
- I'd have thought it would eventually correct itself, but it never does.
- To avoid rocking the boat (I mean, who wants any additional HMRC scrutiny on their return than necessary), I always just click:
Is this figure correct? If not you will be given a chance to change it below. (optional):
> "Yes".
But after doing this for many years now, I'm starting to wonder if I'm paying a charge higher than I should be?
I also read something about it being based on the 'number of Mondays in the Tax year' (so it might not always be /52)... but I just asked ChatGPT how many Mondays there were in the 2022/23 tax year, and it thinks there were 52.
To make my figures add up, it would need to based on 48 weeks ((87.20 * 12) / 21.80)... but that seems wrong - and as I said earlier, it always consistently falls short in all of my returns going back some years now.
Thanks.
SC.
Hello. I have one child, aged 8 (so have been receiving child tax credits for them for many years).
I'm a high rate tax payer, so each year on my tax return, I click the box which says:
Enter the number of children you and your partner got Child Benefit payments for Tax Year 6 April 2022 to 5 April 2023:
> 1
Did you get Child Benefit payments for the whole Tax Year 6 April 2022 to 5 April 2023 for every child?
> Yes
Total amount of Child Benefit you and your partner got for the year to 5th April 2023: [calculated]
> £1133
However, when I actually check my bank account, we only ever receive as an automated credit, a monthly sum of £87.20.
I know the £1133 figure is based on a weekly amount of £21.80 (for eldest/single child, this tax year), and indeed £21.80 x 52 = £1133.60
But I don't understand why I don't actually receive something closer to (£1133.60 / 12) per month, which should be £94.41 instead of the £87.20 I get.
- In every tax year this figure seems off.
- In every tax year, my actual receipts are lower than the amount on the Tax Return.
- I'd have thought it would eventually correct itself, but it never does.
- To avoid rocking the boat (I mean, who wants any additional HMRC scrutiny on their return than necessary), I always just click:
Is this figure correct? If not you will be given a chance to change it below. (optional):
> "Yes".
But after doing this for many years now, I'm starting to wonder if I'm paying a charge higher than I should be?
I also read something about it being based on the 'number of Mondays in the Tax year' (so it might not always be /52)... but I just asked ChatGPT how many Mondays there were in the 2022/23 tax year, and it thinks there were 52.
To make my figures add up, it would need to based on 48 weeks ((87.20 * 12) / 21.80)... but that seems wrong - and as I said earlier, it always consistently falls short in all of my returns going back some years now.
Thanks.
SC.
0
Comments
-
Child benefit is paid 4 weekly rather than monthly.
There will be 13th payment of £87.20 somewhere.1 -
Note that CB is paid 4 weekly not monthly.
so, £21.80 times four = £87.20
You will have received 13 payments of £87.20 over the calendar year.
Check your bank statements
Are you sure that "have been receiving child tax credits"
Alice Holt Forest situated some 4 miles south of Farnham forms the most northerly gateway to the South Downs National Park.1 -
Thanks - you are both absolutely right. I received 13 over the tax year, not 12.
Do'h... I should have spotted that.
Appreciate the help.0 -
Thanks - you are both absolutely right. I received 13 over the tax year, not 12.
Do'h... I should have spotted that.
Appreciate the help.0
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