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Child Benefit tax charge + pension contributions

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hey everyone

i am 40 something and earn 75k and have 2 kids, my partner is a low-ish earner.

Only got this pay this tax year and now liable for tax charge which i will pay.

Current set up
yearly pay £75k
pension contributions 7% = £5,250 - work contributions 14% £10,500
Take home £4191.89
Monthly child benefit £170.20 = £2403.40 yearly 
will be liable to pay roughly £1200 via tax return

should i up my pension contributions to 20% (15k) which would be a hit of £500 per month but i'd keep the full £170.20 or am i being a wally concerning myself with it?

All comments welcome 

Comments

  • Dazed_and_C0nfused
    Dazed_and_C0nfused Posts: 17,669 Forumite
    10,000 Posts Fifth Anniversary Name Dropper
    You seem to be overcomplicating things with the detail you have provided, employer pension contributions are completely irrelevant for example.

    But when it comes to HICBC extra pension contributions can be very tax efficient.

    How much you need to contribute to get the optimum benefit will depend on the method used to get the money into your pension.

    The usual options are
    Net pay
    Relief at source
    Salary sacrifice 
  • Welsh40
    Welsh40 Posts: 2 Newbie
    Second Anniversary First Post
    thanks for the comment
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