High income child benefit charge...oh ****

[Nutty_Death]

It's staggering how many people are unaware of this. At some point I think you have to say that something isn't working if that many people don't know. Yes people should be aware of what taxes they owe but it obviously isn't very clear. The whole benefit and tax system is a complicated mess to understand and use.

 

[Jez]

How did you know to do it? That's what I want to know. No one told me, I had no idea! Were you already self assessing when you first claimed?

Paying it back yearly would have been fine, would have been little issue, but asking for £8.5k back when I had no idea about it is going to sting a little bit. Especially when they say they know how much I owe and only sent me a letter many years after it all started.

People are likely to be a little miffed. It seems like there are lots of people who have been caught out, so perhaps there is something slightly wrong here?

Yeah, i have always self assessed (or at least have done for years), i have property income among other complications and also it is compulsory on income over £100k as they use it to assess your personal allowance. The SA explicitly asks the question and calculates the charge for you.

 

[Captain Chaos]

I opted out in the end as it was just too much hassle doing the return each year. I only ended paying it all back anyway through tax the following year, so for me it was pointless.

This was a massive thing when introduced and you couldn't get away from not seeing it in the news tbh, so confused after this amount of time people were unaware from either the media or word of mouth (that said they should have sent letters out when introduced to cover all bases).

I think its massively unjust as mentioned already in this thread, as two earners in the household can earn £49.999 each and still claim 100% yet a single household earner that goes above 60k can not claim anything!

Oh well, worse problems to have I suppose.

 

[Malt_Vinegar]

Got my official amounts letter through today for 2012 thru 2017.

Long and short of it is, they want a lot of money, very quickly, and payments plans are only over 12 months, unless I want to provide them with my complete financial breakdown.

They will also want a prompt payment for another load for 2018-2019 and again next year for 2019-2020 (partial year claim of about 7 months I think).

It just seems very wrong that other households who earn more than I do were eligable, and would have nothing to pay

 

[LiE]

Got my official amounts letter through today for 2012 thru 2017.

Long and short of it is, they want a lot of money, very quickly, and payments plans are only over 12 months, unless I want to provide them with my complete financial breakdown.

They will also want a prompt payment for another load for 2018-2019 and again next year for 2019-2020 (partial year claim of about 7 months I think).

It just seems very wrong that other households who earn more than I do were eligable, and would have nothing to pay

Did they add interest ?

 

[sk8board_pete]

Yeah they do add interest.
We got stung by this a few weeks back, had to pay back a few grand

 

[SpeedFreak]

A colleague of mine is burying his head in the sand over this. He has received about £4k in CB that he wasn't entitled to. He has since stopped the payments but isn't bothering to sort out self assessment and says he'll wait for HMRC to chase him. I think he must be up to around £8k with penalties and interest.....

 

[PaulStat]

Submitted my self assessment finally, for 2018-2019, just in time hopefully. Bill not too large either.

 

[Malt_Vinegar]

Did they add interest ?

Yup

It's about £7300 with penalties and interest charges.
It was £6300 odd before interest and penalties.

Then it will be another £1800 odd for the 18-19 (due in Jan)
Then about £1000 again for the 19-20 part year.

So yeah. Not the end of the world, but very VERY annoying.

 

[Tinders]

Still havent had anything from HMRC on how and where i can pay my 17/18 monies

 

[LiE]

Yup

It's about £7300 with penalties and interest charges.
It was £6300 odd before interest and penalties.

Then it will be another £1800 odd for the 18-19 (due in Jan)
Then about £1000 again for the 19-20 part year.

So yeah. Not the end of the world, but very VERY annoying.

Damn

I owe £1,164 before penalties and interest for 15-18. Still waiting for the final amount, but I'll probably pay it off over 12 months.

Need to do self assessment for 18-19 where I owe the full £1076. I'll also owe the full £1076 for 19-20.

am I right in thinking when doing self assessment it will just adjust your tax code instead of asking for £1076 in a lump sum?

 

[Em3bbs]

Yeah, i have always self assessed (or at least have done for years), i have property income among other complications and also it is compulsory on income over £100k as they use it to assess your personal allowance. The SA explicitly asks the question and calculates the charge for you.

Don't flaunt your wad Jeremy, it's not becoming.

 

[Skiprat]

Complete ball ache but what can you do. I keep meaning to opt out but does anyone know if I do will I have still have to do a return (don’t earn over 100k which makes doing a return compulsory I believe )

 

[Jez]

Don't flaunt your wad Jeremy, it's not becoming.

What...it was a direct reply to a conversation/question. I hardly ever reply to threads like this because of sarcastic stuff like this. How about you go after the flash guys with the orange lambos and Ferraris instead

 

[Malt_Vinegar]

Damn

I owe £1,164 before penalties and interest for 15-18. Still waiting for the final amount, but I'll probably pay it off over 12 months.

Need to do self assessment for 18-19 where I owe the full £1076. I'll also owe the full £1076 for 19-20.

am I right in thinking when doing self assessment it will just adjust your tax code instead of asking for £1076 in a lump sum?

I think if its for the current year, then yes, it would be on tax code adjustments, but if its old, they will want payment. However, I have been told different things by almost every different person on the phone.

A lady also informed me today that a "payment plan is at our discression, not a right", so be careful when dealing with them.

 

[Destination]

It's not pay it all back though is it?

It depends what you earn.
You pay back a % of the SA from 50k up to 60k
so for each 100 there is an extra % they want back.
If you earn 59.5% you get to keep 50 quid of it.

This is George Osbourne, he specifically created this tax.
Same as his tax upon those with a single rental home.
Its very astute challeorleoring.

Did you vote conservative? We have more of this ahead.
Still probably better than the mess the other lot would have generated.

 

[Em3bbs]

What...it was a direct reply to a conversation/question. I hardly ever reply to threads like this because of sarcastic stuff like this. How about you go after the flash guys with the orange lambos and Ferraris instead

They aren't called Jeremy though (it's a quote from Peep Show)

 

[Dominic-Toretto]

Don't flaunt your wad Jeremy, it's not becoming.

How exactly is he flaunting his "wad"?

 

[Malt_Vinegar]

How exactly is he flaunting his "wad"?

quote from peep show

 

[Guest2]

I might be being simple here, but why do people need to claim child benefits if they have a high income?
I wouldn’t have kids if i thought i had to rely on child benefits to fund them. There were a few of my friends moaning about their £xk a year being taken away by tories and it boiled my wee