Register Now To Avoid a Fine over Child Benefit, Says HMRC

If you are a higher rate taxpayer and have claimed child benefits you need to register for Self-Assessment by tomorrow (5^th October 2013) to avoid a fine.

Lin Homer of HMRC has advised that if you are not sure if you needed you should register anyway to be on the safe side.

Parents who are on a higher income have until Saturday to submit their details for Self-Assessment with the Taxman or they could face fines running into hundreds of pounds.

Homer told BBC Five Live: "We think there is about 200,000 people who still need to get off their backsides and do something."

In saying this, Homer said that the HMRC doesn't want to issue penalties simply because these higher tax payers failed to take action in time.

"For those people who have not taken action yet … please register for self-assessment. If it proves not to be necessary we can always take you out."

Where the highest earner has a salary of £60,000 or more George Osborne, the Chancellor, scrapped their child benefit in last year's Budget.

Christopher Hope, Senior Political Correspondent for the Telegraph website reported that if someone is earning above £50,000 in a household, they could lose a proportion of their benefit.

High income parents have two options now. They can either opt out of receiving the money or fill in a self-assessment form so HMRC can calculate how much of the benefit they need to take back.

The deadline is October 5. Failure to comply could see high income parents handed a fine equal to what they owe.

Should you wish to discuss matters in further detail please call our team on 0845 603 0708 or email answers@nationalsolicitors.com today.

GV Hale & Co

Fraud Solicitors

Barnsley, Doncaster, Scunthorpe, Sheffield

Tel: 0845 603 0708