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Bristol Post
Bristol Post
World
Emma Munbodh & Kate Wilson

The child benefit deadline date you need to know for this week

Parents are being reminded of a key benefits deadline looming this week.

It impacts those who claim Child Benefit and earn a certain amount of cash.

In 2013, then Chancellor George Osborne introduced new rules for families in receipt of Child Benefit.

He scrapped the benefit for anyone earning £60,000 a year or more and reduced the payout for anyone earning between £50,000 and £60,000, reports the Mirror.

But if two parents earned £49,000 each (a total of £98,000 between them), they could still claim it - yet if one parent earned £60,000 and the other nothing, they couldn't.

It meant families earning above this threshold would have to repay part - or all - of the money each year, in the form of a self-assessment.

And now is the time to take action if you've fallen into the 'high income child benefit' bracket for the current tax year.

(PA)

If your household income is over £50,000, you have until Saturday, October 5, to notify HMRC to avoid having to complete a self-assessment form for 2018-2019.

This will ensure that you receive an adjusted tax code. Failing to do so will mean you have to file a tax return and pay any extra money back by January 31.

You can find out more on how high income child benefit charges work, here.

For the latest news in and around Bristol, check back on Bristol Live's homepage

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