.....................if they don't sign up for self-assessment
Nearly 250,000 families who receive child benefit face a penalty fine if they fail to register with the taxman within days. Parents earning more than £50,000 who took the benefit between January 5 and April 6 this year must sign up with HM Revenue and Customs for self-assessment by October 5. Nearly a quarter of a million of the 1.1 million families affected by new child benefit rules have yet to do so, according to HMRC. If they miss the deadline, they can be hit with a fine equivalent to the amount of benefit they receive. Since January, families affected by the changes must choose to stop receiving child benefit, or face a new tax charge. This latter option involves filling in an annual self-assessment form. Nearly 500,000 have already signed up, but 240,000 have yet to do so......Read more here
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250,000 families with child benefit could face tax penalty
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