Sarah Purcell
Joined: 7/12/2023
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P60 and child benefit charge - self assessment or not?
If on paper my salary is approx £51000, but on a 22-23 P60, the figure in the box under "pay and income tax" marked with an asterisk is below £50000, does this mean the high income CB charge does not apply? The P60 states "the figures marked * should be used for your tax return if you get one". Trying to figure out if a self assessment is needed or not, it's very confusing. Does it go on your salary or the figure marked * on the P60 for that tax year?? -
RE: Calculating Net Adjusted Income for Child Benefit High Income Tax Charge
I have a similar query to the above. If on paper a salary is £51000 or thereabouts, but the starred figure on a P45 for tax year 21-22 is c.£49000 - does that mean there is no requirement to submit a self assessment form in relation to the child benefit charge? I'm reading the replies above and it sounds like the starred figure takes into account pension contributions and is the the figure the HMRC requires, therefore we are not liable to pay a CB charge, and do not need to complete a self assessment. Is this correct? Many thanks.