What and when to tell the CMS

[Oneofmany]

Hi all, am after some advice. Currently paying ex buy direct transfer. My income is about to increase (only temporary). Am I best to inform the CMS straight away or put the money aside and wait for next years re-assessment? TIA

 

[mva]

You can inform them off income change online. Otherwise they just adjust it at next reassessment. In short you either pay increase now or later.

 

[Nanaforsonsjustice]

Hi all, am after some advice. Currently paying ex buy direct transfer. My income is about to increase (only temporary). Am I best to inform the CMS straight away or put the money aside and wait for next years re-assessment? TIA

You only need to inform them if you are going to get a 25% annual rise.

 

[Oneofmany]

You only need to inform them if you are going to get a 25% annual rise.

its more than 25%. Will i get hit with earers in April nxt year??