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HMRC to review High Income Child Benefit Charge penalty cases.
HMRC will be refunding thousands of pounds to taxpayers who received a penalty for unknowingly failing to notify the department that they were liable to the child benefit charge.
The high income child benefit charge was introduced from 7 January 2013 and affects individuals with income over £50 000. For every £100 of extra income over £50 000 one percent of child benefit payments should be repaid to HMRC and at £60 000 the child benefit payments are completely clawed back.
Individuals affected were supposed to notify HMRC by 5 October 2013 that they needed to pay this charge and complete a tax return by 31 January 2014 but Blick Rothenburg said thousands did not know – and HMRC issued penalties and demands.
Nimesh Shah Blick Rothenburg partner added: ‘HMRC is reviewing cases going back to 2013 and will issue refunds if it finds the individual had “reasonable excuse”...
