Help with self-assessment

lastminute123

Hi just wondering if anyone can help with a self assessment query due to the higher rate child benefit charge. I have to complete one for the first time. I thought the child benefit charge was based on net adjusted income, so if for example my taxable income was £54000 and I made pension contributions of 2000 do I enter the income of 52000. I can’t see anywhere on the form where I record the pension contributions? Or is the calculation based on the 54000? Thank you

Dazed_and_C0nfused

lastminute123 said:

Hi just wondering if anyone can help with a self assessment query due to the higher rate child benefit charge. I have to complete one for the first time. I thought the child benefit charge was based on net adjusted income, so if for example my taxable income was £54000 and I made pension contributions of 2000 do I enter the income of 52000. I can’t see anywhere on the form where I record the pension contributions? Or is the calculation based on the 54000? Thank you

You cannot do this correctly unless you know the method used to make the pension contributions.

Relief at source
Net pay
Salary sacrifice 

lastminute123

Not a wind up unfortunately! Doing it online, imagine I would have missed the deadline for 

thank you dazedandconfused, I’m not sure which. I will find out. 

lastminute123

*for the paper form

Dazed_and_C0nfused

lastminute123 said:

Not a wind up unfortunately! Doing it online, imagine I would have missed the deadline for 

thank you dazedandconfused, I’m not sure which. I will find out. 

Relief at source would mean you see basic rate relief added to  what you contribute (25% of your net contribution).  Check your pension account for this.

Net pay is where salary is say £60k and you contribute 10% so P60 shows taxable earnings as £54k.

Salary sacrifice is where you don't actually pay anything into a pension, you agree a reduced salary in return for extra employer contributions.