March bonus -> 100k -> childcare benefits?

CrackleNpop

Can I just say, THANK YOU to everyone who mentioned savings interest. 

I think I am being overly paranoid.

Similar, I got a generous bonus that has tipped my Gross Pay above 100k.
I think I've overplayed the pension contribution, putting the full  N amount over the 100k into the pension, which is actually for ANI worth N/0.8. 

I might top it up a little more to be sure, don't want an expensive mistake.


So what do I actually need to do to tell HMRC that despite what it says on their records about my gross pay that I have ANI of under 100k?

[Deleted User]

CrackleNpop said:

Can I just say, THANK YOU to everyone who mentioned savings interest. 

I think I am being overly paranoid.

Similar, I got a generous bonus that has tipped my Gross Pay above 100k.
I think I've overplayed the pension contribution, putting the full  N amount over the 100k into the pension, which is actually for ANI worth N/0.8. 

I might top it up a little more to be sure, don't want an expensive mistake.


So what do I actually need to do to tell HMRC that despite what it says on their records about my gross pay that I have ANI of under 100k?

You simply need to inform them of the SIPP contribution- try at 8 am sharp before everyone who doesn’t read this forum is aware that they are open!

MetaPhysical

The savings interest is a nasty one for the unwary.  Say you got £400 in such interest and so you don't pay tax on it. We're out of the woods you may think.   However, it is still added to your gross income and can tip you into a higher tax band because it is still income, albeit untaxed, so it counts towards total income and can tip you over the 100k threshold.  You are better to overestimate your interest rather than underestimate it so you can act accordingly with an appropriate (bigger) pension contribution before tax year ends.