Tuesday, 24 September 2013

Deadline to register for Self-Assessment if liable to Child Benefit tax charge

Since 7 January 2013, if you or your partner/spouse are in receipt of Child Benefit and either of you have total income of more than £50,000 you will be liable to the new High Income Child Benefit charge.

If this applies to you and you are not already registered for Self-Assessment with HMRC, perhaps because your income is already taxed under PAYE, then you are obliged to register by 5 October 2013.

For assistance, please contact ppeterson@petersonsims.com   or gsims@petersonsims.com