I’ve had a letter from HMRC saying I owe money for child benefit
We have seen an increase in the number of clients who have received letters requesting amendments to their tax return in respect of the high income child benefit charge. This charge becomes applicable where you have a gross income of more than £50,000, and you or your partner are in receipt of child benefit. (Child benefit is the amount you get from the government for having children and is not generally means-tested). To this end, we would remind clients that it is important to notify us of any child benefit received by you or your partner when preparing your tax return. HMRC has the right to charge penalties if this disclosure is not made.