Child Benefit - do you need to complete a tax return?
Thousands of people will have to complete a tax return for the first time due to the changes to the Child Benefit rules.
If one partner (whether or not the natural parent of the child) in the household is earning more than £50,000 per year, then there will be a claw back of some of the child benefit received. However, if the highest earning partner receives income in excess of £60,000, all the child benefit will be clawed back.
If this affects you, then you need to register with HM Revenue & Customs as soon as possible as the first return must be with the Taxman by 31 January 2014 if penalties are to be avoided.
The Tax Team at robinson+co can deal with this for you - contact us on 01900 603623 and ask for Ruth Bennett for an initial chat.