OV9

Anyone familiar with this nonsense?

Our situation has changed and we'll now be subject to it. But advice is conflicting about how it works.

I've read that, in order to continue to receive the NI credits, you have to continue to claim the payments and then complete a self assessment form at the end of the year so you can be charged back 100% of the payments (genius). I've also read that you can simply opt not to receive the payments but still get your NI credits.

I have precisely zero confidence in HMRC advising us or making any changes correctly so want to go in armed with as much knowledge as I can

Think Rev was caught out by this. I'm sure he'll be along in a sec.

Funnily enough, my wife got a letter from HMRC yesterday and I did a panic quick check, wondering if she'd done the same!

I’m not sure what relevance NI credits has to do with child benefit, but I’m not an expert.

I got caught out when the law changed and MrsREV assured me she’d cancelled the payments but she hadn’t so I had to pay back 3 (I think) years worth of payments.

We’ve now cancelled them. I don’t believe there to be any advantage to taking the payments and then adjusting your tax via self-assessment and then repaying it as a lump sum, but I could be wrong.

Ah, just read up on the NI thing. No idea as MrsREV was working so no issue with needing to top up.

We're both working as well so hoping we should be ok to not give a crap, but I'm keen to get to the bottom of it JIC

And all of this only affects you if your child was born after 2013.

That's how it works for me...

I receive full Child Benefit, declare it on my Self assessment tax return and it's deducted. I was self assessment before so I don't know if that's an factor.

dinny_g wrote: ↑Fri Jul 06, 2018 12:02 pm That's how it works for me...

I receive full Child Benefit, declare it on my Self assessment tax return and it's deducted. I was self assessment before so I don't know if that's an factor.

It isn't.

Yeah - im looking forward to a tax bill for it at the end of the year. Im just treating it as a tax free loan at the moment.

Swervin_Mervin wrote: ↑Fri Jul 06, 2018 11:45 am And all of this only affects you if your child was born after 2013.

Don't think that's true?

ste wrote: ↑Fri Jul 06, 2018 12:07 pm

Swervin_Mervin wrote: ↑Fri Jul 06, 2018 11:45 am And all of this only affects you if your child was born after 2013.

Don't think that's true?

I think he means the NI bit?

Ah right.

I recall I declared that I didn't want to get it. Some friends took it with a view that they could earn money on the interest then pay it back. Sounds like a faff I don't need.

It can be a good idea to claim it anyway then repay it at the end of the year, because if you lose your job part way through the year bringing your earnings to under the threshold then you can't claim payments in arrears. So effectively you could miss out. It's all a lot of nonsense anyway but I understand that above is the best way to handle it.

NotoriousREV wrote: ↑Fri Jul 06, 2018 12:08 pm

ste wrote: ↑Fri Jul 06, 2018 12:07 pm

Swervin_Mervin wrote: ↑Fri Jul 06, 2018 11:45 am And all of this only affects you if your child was born after 2013.

Don't think that's true?

I think he means the NI bit?

Correct. Well, AIUI anyway. The whole claim and repay is absurd. They clearly don't have enough to do at HMRC

We've never claimed, but had to register as claiming nothing (once for each child, no ability for them to recognise that if I don't claim for the first child and have not notified them of a change in conditions I'm not going to claim for subsequent sprogs). ISTR that it can otherwise impact on the child's ability to get an NI number when they're old enough because they're not in the system or some such nonsense.