Child benefit changes Q and A – how they may affect you
How are you affected by the child benefit changes coming in from January if – for example - you and your partner split up?
The government’s child benefit changes coming in from January 7th are not the most straightforward. I’ve written an article that’s a basic guide to the child benefit changes, but I’ve also had lots of questions about what counts towards the £50,000 income threshold and what happens if your partner won’t tell you about his or her finances and who pays the tax charge if a new partner moves in.
Child benefit changes; if you or your partner earns over £50,000 a year, what should you do?
Households where one partner earns £50,000 or more will have to pay extra tax or give up child benefit.
From January 2013, if you or your partner earns over £50,000 a year and you live together, you aren't entitled to the full rate of child benefit. Instead child benefit will be clawed back through a tax charge. The main thing to remember is that even if you or your partner earn more than £60,000, you should make sure you receive National Insurance credits.
The deadline for renewing your tax credits is July 31st. Don’t miss the deadline.
If you need to renew your tax credit claim, make sure you contact the tax credit helpline in time
If you claim tax credits you should normally receive your renewal form by the end of June, although you may have received it earlier, depending on your situation. Whether or not you need to do anything depends on exactly what you've been sent. The bottom line is that if you’ve been sent an annual declaration form, you need to return it or contact the tax credit helpline by July 31st.