Parents urged to check child benefit within days or risk big tax bill

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Parents urged to check child benefit within days or risk big tax bill
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Parents urged to check child benefit within days

is worth £21.80 a week for the first child - or just under £2,000 a year - and £14.45 a week for an extra child.

The HCBC means if either parent earns over £50,000 then they have to pay a tax charge on the benefit.If either parent earns £60,000 or more the full amount must be repaid.previously spoken to parents who were hit with surprise billsIf you fail to file a self-assessment tax return you could be fined up to 30% of what you owe by HMRC.If it's longer than that interest starts to be charged on outstanding balances.

Anyone filing a self assessment tax return for the previous tax year, from April 6 2021 to April 5 2022, needs to register with HMRC by October 5.

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