Child Benefit and Self Assessment

Under new rules since 7th January 2013 if you are receiving Child benefit and either you or your partner earn more than £50K, you will have to complete a self assessment tax return and will have to pay back some of the Child Benefit.

Child Benefit is clawed back at 1% for every £100 of excess income, so that when one person’s income reaches £60,000 all of the child benefit is clawed back.

If your income is more than £50000, you will need to do a 2012/13 Tax Return by 31.10.13 if you want to file a paper Return.

We can give you a Check List showing you what you need for the Return and complete and submit it for you for as little as £75 + VAT.

Do not leave it until the last minute but contact us as soon as you have received your P60.

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