Anyone had a letter from HMRC yet about Child Benefit Tax?

waccamole

Hi

As per thread title has anyone had a letter from HMRC yet about Child Benefit Tax?

Seem to remember they were supposed to go out at end of October. There was a small flurry of articles in the media then.

1 Jan 2013 only 7 weeks away and still not had any communication.

Cheers

Wacca

idristhedragon

I havent. I have four children and could very possibly be losing it due to husbands salary but have heard nothig so far

Dasa

What is the letter about and are they going out to everyone? I haven't had a letter.

waccamole

I only have three and that's bad enough!

(Love 'Ivor the Engine' btw Idris.)

waccamole

Dasa wrote: »

What is the letter about and are they going out to everyone? I haven't had a letter.

Taxing higher earners to claw back Child benefit. Everyone affected should be getting a letter from HMRC 'in the autumn'. Various threads on here provide more detail.

idristhedragon

Thanks waccamole! are you whack a mole or guacamole or frijolimole LOL

waccamole

idristhedragon wrote: »

Thanks waccamole! are you whack a mole or guacamole or frijolimole LOL

A bit of both the first two - no idea what the third is!

EvieSaver

We haven't received a letter either.

But I read that the letters are being sent out to those earning over £50k in the 2010-2011 tax year as HMRC do not have the figures for the 2011-2012 tax year ready yet. We would not be included if that is the list they are using, although we will be over the £50k this 2012-2013 tax year.

I'm not sure how it's paid back. I know that some things can be paid through an adjustment to the PAYE tax code but isn't self assessment usually paid as a lump sum?

ceeforcat

EvieSaver wrote: »

We haven't received a letter either.


I'm not sure how it's paid back. I know that some things can be paid through an adjustment to the PAYE tax code but isn't self assessment usually paid as a lump sum?

Well - it is and it isn't. There has always been the option for those who have a PAYE source to have their underpayment collected through an underpayment by adjusting their code number. There are conditions but the option remains.

ChasingButterflies

[STRIKE]We[/STRIKE] DH received his letter today... although I had found an example online last night http://www.cheapaccounting.co.uk/blog/index.php/child-benefit-tax-charge-letter/

Also with regards to the higher earner paying back through PAYE I noticed that you are not given this option for underpaid tax in excess of £3k so if you have 4 children (or more!) then I guess it will need to be paid in a lump sum (if you elect to continue to receive CB) I could have interpreted this info incorrectly, but I am sure someone more knowledgeable will advise if this is the case.

Off to see how long it takes to get through to someone at the tax office now :rotfl:

Tinker009

If you elect to continue receiving the child benefit, and your income turns out to be over £50k in 2012/13 you will need to register for self-assessment (unless you are employed and the underpayment is less than £3k in which case it can be coded). It's going to push a lot more people into the self-assessment system unfortunately...

Actually just noticed that the HMRC website says the charge for the period 7 January 2013 - 5 April 2013 can only be collected via your tax code IF you do a tax return and it's within the limit. So, that means everyone earning above £50k who continues to claim will need to complete a tax return!