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Tag Archives: Self assessment

Are you a high earner claiming child benefit without making a tax return?

A high income child benefit tax charge was introduced by HMRC on the 7th January 2013 and it took effect when one person in a household had an annual income of £50,000 (households with one person earning £60,000 or more lost the child benefit payment completely). People who claim child benefit with an individual income of over £50,000 per annum had until the 5th October 2013 to register for self assessment.  …Read More

Second Income Campaign by HMRC

A new voluntary disclosure opportunity was announced by HM Revenue & Customs on the 9th April 2014: if you are an employee, you are resident in the UK and you have additional self employed income that has not been declared to HMRC this is an opportunity to bring your tax affairs up to date. Consultants, Taxi drivers, Hairdressers, Arts & crafts … A second income may arise from many sources …Read More