Parents on Higher income – Registrations for Self Assessment deadline 5th October 2013

Parents on higher incomes who have elected to continue to receive their Child Benefit after January 2013 should note that they must register for Self Assessment by 5 October 2013 to avoid any penalties in relation to the High Income Child Benefit Charge.

HM Revenue and Customs (HMRC) will be writing to around two million higher rate taxpayers during August, including those affected by recent changes to Child Benefit. The letter reminds them that if their income is over £50,000 and they or their partner have been receiving Child Benefit in 2012/13, they will need to complete a Self Assessment tax return for the 2012/13 tax year. They must register now with HMRC for Self Assessment if they have not already done so.