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Tax and Pensions and Child Benefit
pollyanna24
Posts: 4,375 Forumite
in Cutting tax
I have got myself a little second job in a supermarket as my primary job doesn't involve much interaction with people. The pay isn't very much, but it will take me just over the higher tax bracket (which also affects child benefit). But this is all gross wages and I do pay into work pensions on both jobs.
Do I take the gross amount and minus the amount I pay into the work pensions and that is the amount I have to worry about when it comes to tax and child benefit because that will definitely be below £52,270.
I don't mind paying what is necessary (haha), it's more that I have heard that I might have to fill in a self assessment form or pay back a heap of child benefit in the future that worries me.
Do I take the gross amount and minus the amount I pay into the work pensions and that is the amount I have to worry about when it comes to tax and child benefit because that will definitely be below £52,270.
I don't mind paying what is necessary (haha), it's more that I have heard that I might have to fill in a self assessment form or pay back a heap of child benefit in the future that worries me.
Pink Sproglettes born 2008 and 2010
Mortgages (End 2017) - £180,235.03
(End 2021) - £131,215.25 DID IT!!!
(End 2022) - Target £116,213.81
Mortgages (End 2017) - £180,235.03
(End 2021) - £131,215.25 DID IT!!!
(End 2022) - Target £116,213.81
0
Comments
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The figure that you should be concerned about is £50100, not £52270 (or was that a typo and you meant 50270?)
The figure you use is adjusted net income - income after pension contributions, gift aid etc
It will depend and on how your pension contributions are made and, no doubt, the resident authority on that issue will be here soon.
https://www.gov.uk/government/publications/high-income-child-benefit-charge-data/high-income-child-benefit-charge0 -
Yes, sorry. I believe I meant £50,270.
Thank you for your reply. I believe the work pensions are taken at source, so I should be okay without worrying about self assessment and the like, but I shall have a look at the link you provided.Pink Sproglettes born 2008 and 2010
Mortgages (End 2017) - £180,235.03
(End 2021) - £131,215.25 DID IT!!!
(End 2022) - Target £116,213.810 -
0
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