Which I presume can be derived from both P60 and P11D for this calculated adjusted net income amount i.e.
Within P60 - The Pay "Total for year" amount under section 'Pay and Income Tax details' PLUS the benefit amount detailed in the corresponding P11D, which would be the adjusted net income amount.
I understand if the "adjusted net income" amount exceeds 50k then the HICBC applies; at 1% of child benefit amount per £100 from 50k-60k.
I must admit that I'm not very clear on the adjusted net income calculation, and wanted to check if this is correct?
That's all pretty much spot on - the only circumstances i would guess where things would be different is if the pension contributions made by you via your employment were deducted from "net salary" rather than gross salary (gross salary deductions reduce p60 total - net salary deductions don't). If that is the case you would add on the grossed up value of the pension contributions deducted from your net salary - deductions * 100 / 80.
Note there is also the the option to reduce your income for gift aid payments / allowable union & professional fees and other work related expenses not refunded tax free.
I'm pretty sure that the my pension contributions are deducted from the gross salary. Similarly the child care vouchers are also deducted from gross salary.
So presume no need to gross up any values as my calculations are still alrite?
Just to be sure with regards to pension contributions, as I've mentioned I contribute 7-8% per pay period (4weekly) and the employer contributes ~19%.
I assume for the adjusted net income, I only need to consider the pension contributions that I pay in (7-8%), and the employer contributions do not have to be factored in? Is that correct?