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Warning to parents over child benefit
12:00pm Monday 23rd September 2013 in News
HIGH-EARNING parents in Hampshire have just under a month to register for child benefit – or face a penalty.
Figures show there are around 21,930 people in Hampshire, including around 3,450 in Southampton, who need to register for HM Revenue and Customs (HMRC) for self-assessment by October 5 to pay the high income child benefit charge.
The figures are based on an estimate of those who needed to register as of January 7 this year, when the charge was launched.
It is a timely reminder for parents on high incomes who have continued to receive child benefit since January.
Parents with incomes of more than £50,000 and who received child benefit for the tax year 2012/13 will need to complete a self-assessment tax return for that year. HMRC warns people could be liable for a penalty at a later stage.
Those who did not receive any payments relating to the period after January 7 do not need to register for self-assessment.
HMRC’s chief executive Lin Homer, said: “HMRC wants to ensure that people avoid possible penalties and pay the right amount of tax.”
To opt out of child benefit go to hmrc.
To find out if you need to register for self-assessment go to at hmrc.gov.uk/yourtaxreturn.
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