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Hopefuly someone can help me to clarify the process regarding Self Assessment, Child Benefit and a possible charge. Here goes...
I earn £56k and my wife has no income. I have a work place pension which from my employer which I additionally top up with a monthly contribution of £345 (£4,140 p.a.). Main reason for this is to reduce my income and pay a smaller Higher Income Child Benefit charge. I have two children and receive £1823 p.a. in Child Benefit. When I enter these details in to the gov.uk Child Benefit Calculator it says I owe a charge of £148 which sounds fair enough.
Next step was to enter my details on the gov.uk self assessment site but it's not clear where I enter my monthly pension contribution of £345. If I leave it out the final calculation says I owe £1,246 which doesn't sound right. I went back through the application and entered my monthly pension contribution in the section titled: Did you make contributions towards a personal pension or retirement annuity? (NB: it's not a personal pension as it's via my work but there is no other section where I can enter this amount which is paid voluntarily in addition to my emplyer's contribution).
Now when I view my calculation it says I am owed £1,156. That sounds great! It sounds too good to be true and I don't want to end up being chased for it in a few years time so wanted to see if someone can clarify why I've arrived at three different amounts and which one is correct?
Any feedback much appreciated. I've been on a number of forums but cannot find a definitive answer. The only explanation I've found which makes sense is that it may be due to personal pension relief which is greater than the amount of child benefit I have to pay back which is why I'm due a tax refund.