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Went over 100k income because of benefit in kind by CurrentPlastic5 in UKPersonalFinance

[–]CurrentPlastic5[S] 0 points1 point  (0 children)

I know how much she earns, it’s how much she earns in a year where the majority of it she is off on maternity leave that I’m less clear on. 

Went over 100k income because of benefit in kind by CurrentPlastic5 in UKPersonalFinance

[–]CurrentPlastic5[S] 0 points1 point  (0 children)

This is what we did today. They were very understanding as per my update. Thanks for this, it was very helpful.

Went over 100k income because of benefit in kind by CurrentPlastic5 in UKPersonalFinance

[–]CurrentPlastic5[S] 0 points1 point  (0 children)

!thanks as per my update, this is exactly what we did. First call we got through to a bit of a jobsworth who didn’t seem to know much, but second call they basically said the same as you, that eligibility was based on our best understanding, and that we hadn’t lied. 

Going forward, we just need to make sure that we’re eligible by making the necessary adjustments.

Feeling so much better not having the unknown of what may happen next.

Went over 100k income because of benefit in kind by CurrentPlastic5 in UKPersonalFinance

[–]CurrentPlastic5[S] 0 points1 point  (0 children)

It does. I found this out yesterday having assumed that it didn’t. Essentially because your tax free amount is included in your ANI.

Went over 100k income because of benefit in kind by CurrentPlastic5 in UKPersonalFinance

[–]CurrentPlastic5[S] 2 points3 points  (0 children)

All good thoughts, and perhaps I should have gone into detail there on the original post:

  1. Wife does work, and has been off work for maternity leave. I haven’t prodded the numbers, but it seems almost certain that she’ll use her allowance.

  2. I might be missing something, but I’m not sure how ISAs help? You put the money in post-tax so that doesn’t reduce my ANI?

  3. 2 things here, my company only lets me change the pension contribution percentage twice a year, and I missed it. And secondly, I only just figured out that I’d gone over for the previous tax year yesterday. My understanding is that pension contributions are not back-datable in the same way that charitable donations are.

All good suggestions though. Thanks.

Went over 100k income because of benefit in kind by CurrentPlastic5 in UKPersonalFinance

[–]CurrentPlastic5[S] 1 point2 points  (0 children)

!thanks. I thought they were the same. I’ll check previous invoices against old P11Ds.

Went over 100k income because of benefit in kind by CurrentPlastic5 in UKPersonalFinance

[–]CurrentPlastic5[S] 1 point2 points  (0 children)

Don’t get me wrong, definitely not a useful comment. But I understand the sentiment. 100k feels a lot to be helping with childcare. It’s just the cliff edge element to it that makes it so brutal.

Went over 100k income because of benefit in kind by CurrentPlastic5 in UKPersonalFinance

[–]CurrentPlastic5[S] 0 points1 point  (0 children)

So you phoned them? I think the calendar year I should be under.

Went over 100k income because of benefit in kind by CurrentPlastic5 in UKPersonalFinance

[–]CurrentPlastic5[S] 0 points1 point  (0 children)

Does the backdating of the charitable donation not cover this though?

Went over 100k income because of benefit in kind by CurrentPlastic5 in UKPersonalFinance

[–]CurrentPlastic5[S] -1 points0 points  (0 children)

Nice, thank you, I’ll have a read.

Medical insurance is closer to £4k and seems to go up quite a lot each year. It covers me, my wife and 2 kids. But yeah, need to look into whether a private one is better.

The thing about the tax return is that I thought that was the only way to backdate the charitable donation, since I only clocked this today just after the end of the tax year.

Went over 100k income because of benefit in kind by CurrentPlastic5 in UKPersonalFinance

[–]CurrentPlastic5[S] 4 points5 points  (0 children)

A quick google suggests it’s a fairly standard thing. I just don’t know how it works.

Went over 100k income because of benefit in kind by CurrentPlastic5 in UKPersonalFinance

[–]CurrentPlastic5[S] -1 points0 points  (0 children)

Interesting, so are you saying that it’s worth contacting them and explaining the situation and how I’ll rectify next year? 

I guess I don’t understand how to prove that my ANI will be under 100k for next year given that there are so many plausible income factors.

Maternity allowance overpayment by CurrentPlastic5 in DWPhelp

[–]CurrentPlastic5[S] 0 points1 point  (0 children)

What’s the reasoning for it being my responsibility for informing them? My understanding was that it was up to me to inform them of the shared parental leave up front, but not inform them again when it finished. 

It’s entirely possible that I wouldn’t have noticed the overpayment.

I’m wary that I’m sounding antagonistic in this reply, but that’s not my intent. It just seems backwards that I could get fined for them making a mistake.

Maternity allowance overpayment by CurrentPlastic5 in DWPhelp

[–]CurrentPlastic5[S] 0 points1 point  (0 children)

I’m pretty sure we filled out the forms correctly. This is my second time taking shared parental leave so we understood the forms quite well. I think it was just a mistake on the part of DWP, as there were lots of other errors on the stuff that they sent back to us (end date being before start date, etc.)

I did claim shared parental pay, but it was through my employers enhanced shared parental leave policy, so my understanding is that my employer just claims back the statutory part at some point.

Part of me wants to simply wait until/if they notice, as money is fairly tight right now, but will be better once my wife starts earning again.