Hi all from what i understand the new Child Benefit system will start from 7th January.
I also understand that i will recieve the full amout as i do now and at the end of the tax year based on my Gross pay, about £55000 i will have to pay back some of the money.
My question is how will they calculate the amount owed for the time between 7th January 2013 and the new tax year April 2013??
My monthly pay changes ....
Aso if this system means i now need to do a tax return, each year how do i pay the money back?? Cheque or tax code change???
Cheers Neil
I also understand that i will recieve the full amout as i do now and at the end of the tax year based on my Gross pay, about £55000 i will have to pay back some of the money.
My question is how will they calculate the amount owed for the time between 7th January 2013 and the new tax year April 2013??
My monthly pay changes ....
Aso if this system means i now need to do a tax return, each year how do i pay the money back?? Cheque or tax code change???
Cheers Neil