Noname Brand
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Extra High Income Child benefit charge due to Pension lumpsum received.
Hi, We currently receive child benefit payments. My and my partner's salaries are below 60K. I had to cash in one of my small private pension pots in 2023. I did not know that when you or your partner are not entitled to receive child benefit when either earns more than 60K. So I got a shock when I filled out my 2023-24 return that I now have to repay the child benefit payments we received as the High Income Child benefit charge because the pension received took my taxable income over 60K! To me it seems unfair because I paid into that pension more than 15 years ago and now I have to indirectly pay £1248 more tax on it. Is there something I can do about it? Thank you