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PARENTS should only be able to claim child benefit for four children under a think tank's plans to trim PS1bn from the welfare bill.
Single person one child 2013/14 2014/15 Gross income 6,000 6,000 Tax allowances used 9,440 10,000 Car benefit 0 0 Taxable income 0 0 Gross tax 0 0 Married relief 0 0 NI contribution 0 0 Working tax credit Child tax credit 7,155 7,225 Child benefit 1,056 1,066 Net income 14,211 14,291 Net change p/a GAIN 80 Weekly change 1.
AFFLUENT working parents in the West Midlands who have claimed child benefit face a looming deadline before the taxman swoops for repayment.
HM Revenue and Customs is reminding people with an income over PS60,000 whose family is still receiving Child Benefit to opt out before March 28 if they wish to avoid filling in a tax return and repaying the benefit for the 2013-14 tax year.
The new Child Benefit changes which came into effect this month need careful examining by those affected to determine the best approach, a tax adviser has warned.
About 200,000 people have opted out of receiving child benefit before changes are brought in tomorrow.
More than one million letters are being sent out by HM Revenue and Customs to warn families that they could lose their child benefit from January 7.
Worried parents marched on the Dail over threats to child benefit payments and angry workers took to the streets of Cork to protest cuts to home-help workers.