Feck deadline was Dec 30th for this. Bugger - went to do it today.
Stupid to use Dec 30th!!!!
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Previously on "Child benefit repayment - Pay off or add to tax code?"
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so bottom line- if I decide to pay via tax code is there any way I'd end up paying more?
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We kept getting paid it and just repay in January.
This meant we knew that my wife would get her NI credits, whilst it "should" happen anyway if you opt not to have it paid I don't trust the DWP to get it right
At least this way it's been paid out so there is a record that she should have gotten the NI credit
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Originally posted by psychocandy View PostQuestion for everyone if you're income is over £50K and you've got kids and not cancelled the child benefit
I did answer the question as well as calling you a permie though....
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Originally posted by psychocandy View PostQuestion for everyone if you're income is over £50K and you've got kids and not cancelled the child benefit
So, for example, if husband goes to work and wife stays at home - then receiving and paying back the child benefit results in NI credits for the wife - meaning she gets more of the state pension when she retires.
My wife hasn't worked for nearly 20 years and has had full NI credits during that time.
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Originally posted by Lance View Posttry here
https://www.citizensadvice.org.uk/wales/
Sounds like a permie question.
I'd do it by SATR myself and pay the money as needed. When I was permie it always worked out cheaper than I feared anyway. It's also a route to claim extra stuff like some tax back on any business miles you did, despite what an umbrella's opinion is on what can or can't be done.
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Originally posted by ladymuck View PostI personally don't like anything that messes with my tax code as it's hard to be completely sure that the right amount has been taken and, when you're all paid up, you have to make sure your tax code is correctly updated. Chances are you'll over pay and have to claim a refund.
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Originally posted by psychocandy View PostMust admit wasn't aware you could do it via tax code.....
Yes, I know some of you manage to not have to pay this back. (I used to by sharing divs with the mrs so we both went right up to the limit). Alas, those of IR35ed in the Public Sector its not doable.
Last years I paid it all back end of January. Advantage of adding to your tax code is I dont have to stump up the £2K in January and it can stay in my savings?
But is there any scenario where, in effect, paying your tax the next year could work out disadvantageous?
https://www.citizensadvice.org.uk/wales/
Sounds like a permie question.
I'd do it by SATR myself and pay the money as needed. When I was permie it always worked out cheaper than I feared anyway. It's also a route to claim extra stuff like some tax back on any business miles you did, despite what an umbrella's opinion is on what can or can't be done.
Leave a comment:
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I personally don't like anything that messes with my tax code as it's hard to be completely sure that the right amount has been taken and, when you're all paid up, you have to make sure your tax code is correctly updated. Chances are you'll over pay and have to claim a refund.
That said, I can see the appeal for not having to find a lump sum in January.
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Child benefit repayment - Pay off or add to tax code?
Must admit wasn't aware you could do it via tax code.....
Yes, I know some of you manage to not have to pay this back. (I used to by sharing divs with the mrs so we both went right up to the limit). Alas, those of IR35ed in the Public Sector its not doable.
Last years I paid it all back end of January. Advantage of adding to your tax code is I dont have to stump up the £2K in January and it can stay in my savings?
But is there any scenario where, in effect, paying your tax the next year could work out disadvantageous?Tags: None
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