Does anyone have any experience of recieving a pay increase that put you over the threshold for child benefit? My husband starts a new job next month with a larger salary. It puts us in the bracket between 50k and 60k where you're still entitled to some, for the tax year 2013-2014. And then over the bracket of 60k where you're not entitled to anything for 2014 to 2015.
I've done some research. From what I understand 2014 to 2015 will be pretty simple as I just have to tell I'm not entitled to it and they will stop paying it. But from 2013 to 2014 am I right in thinking they pay me and then tax it at the end? I read a self assessment needs to be done. But I don't know who completes this. The child benefit is in my name, but my husband is the one with the higher salary.
Any advice anyone can give would be great!
I've done some research. From what I understand 2014 to 2015 will be pretty simple as I just have to tell I'm not entitled to it and they will stop paying it. But from 2013 to 2014 am I right in thinking they pay me and then tax it at the end? I read a self assessment needs to be done. But I don't know who completes this. The child benefit is in my name, but my husband is the one with the higher salary.
Any advice anyone can give would be great!