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Child benefit

Discussion in 'Pregnancy' started by sabby81, Mar 21, 2012.

  1. sabby81

    sabby81 New commenter

    Hello all - I'm due in 3 weeks which falls just into the 2012-13 tax year. My salary (including TLR and inner London allowance) takes me into the 40% tax bracket - though not by much! Do you think I'll qualify for child benefit as my actual take home salary this year will be much less as I'm on maternity leave? Thank you :)
     
  2. sabby81

    sabby81 New commenter

    Hello all - I'm due in 3 weeks which falls just into the 2012-13 tax year. My salary (including TLR and inner London allowance) takes me into the 40% tax bracket - though not by much! Do you think I'll qualify for child benefit as my actual take home salary this year will be much less as I'm on maternity leave? Thank you :)
     
  3. Sabby, the planned changes that had been announced have been amended in today's budget statement, so you will most likely find that you are now under the threshold for a reduction in CB, even based on your normal salary. I would imagine that you are correct that you would be eligible this tax year anyway as your salary is greatly reduced. From what I've read, you get a form in the Bounty pack you get after birth which you fill in to make your claim - if I were in your situation, I'd fill it in and see what happens!
     
  4. sabby81

    sabby81 New commenter

    Thanks LMC :) just wasn't sure if the budget announced today was for the tax year 2012-13 or 2013-14....hopefully it's for this year! Every little helps :)
     

  5. For now, things stay as they are. Even if you are affected by the new scheme, you will still receive full child benefit, but then be charged 1% of your benefit per £100 you earn over £50,000. So, assuming you have just one child, you will get £1055.60 child benefit per year. If you earnt over £50k, you would be charged £10.55 per £100 over the £50k limit.
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  6. Sabby child benefit is not means tested until next financial year. The arrangements now are beyond my tiny brain not least because my OH is self employed. So I will get child benefit and then he will have to pay his accountant to tell him how much extra tax he has to pay as a result?
     
  7. Thats still unclear it doesnt come in till 2013.
     
  8. sabby81

    sabby81 New commenter

    Thanks Brettgirl-my hubby is the same (self employed). Would be annoying to miss out on child benefit as little as it is, we will still have an extra little mouth to feed, clothe and take care of x
     

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