How UK taxpayers can avoid falling into the child benefit trap

Every year high-income charges catch out thousands of families. Here’s how to not fall foul of HMRC

Workers with children who earn close to £50,000 a year may unwittingly owe HM Revenue & Customs hundreds, and in some cases thousands, of pounds because of the high-income child benefit charge.

Every year HMRC sends out thousands of letters to parents asking them whether they are liable to pay the charge – in 2019-20 it sent 73,000 and a similar number are expected in the current tax year.

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from The Guardian https://ift.tt/2LWbE0F