Pay rise taking to 60k+ mid-year

mumoftwounderseven

My husband has just let me know that last month his salary increased to above 60k. I know he'll need to do the self assessment and pay back, but as it's beyond mid-year it's unlikely his P60 will say more than 60k. Dors he need to let them know now, or can he wait until April when he's got his P60 and notify them if it has exceeded 60? I'm so confused and can't see any advice for mid-year changes (which is something that happens in our line of work). Thanks a lot ☺️

Robbie64

It's £60,000 for the tax year as a whole so will be the figure on the P60.

Dazed_and_C0nfused

mumoftwounderseven said:

My husband has just let me know that last month his salary increased to above 60k. I know he'll need to do the self assessment and pay back, but as it's beyond mid-year it's unlikely his P60 will say more than 60k. Dors he need to let them know now, or can he wait until April when he's got his P60 and notify them if it has exceeded 60? I'm so confused and can't see any advice for mid-year changes (which is something that happens in our line of work). Thanks a lot ☺️

If you are posting about the High Income Child Benefit Charge then you should be aware,

1) His salary is irrelevant.  It's adjusted net income which matters.  So any other taxable income needs to counted and his taxable earnings may be less than his salary due to pension contributions.

2) A Self Assessment return is no longer needed if the only reason for one would be HICBC, it can now be dealt with via PAYE.  But he needs to contact HMRC for this to happen.

3) A mid year change doesn't necessarily matter, it is the position for the tax year as a whole which matters.

peteuk

If he knows how much he’s been paid for the first 6/7 months and then works out an estimated for the remaining taking into account the pay rise. He can updated the estimated on the HMRC app

Eg if wage was £55K per annum and now is £60K per annum. - 50% of £55K + 50% of £60K= estimated years wage for the year.  
£27.5K+£30K=£57.5 K