According to IFAonline, some 270,000 people have decided to opt out of receiving child benefit following changes to eligibility rules. That leaves approximately 830,000 still in the system who will be affected by the changes.
Good luck to the good people of HMRC with processing that mini mountain of "paperwork"!
Tax does have to be taxing.
Professional Cover Against the Threat of Costly TAX and VAT Investigations
Insurance to protect you against the cost of enquiry or dispute with HMRC is available from several sources including Solar Tax Investigation Insurance.
Ken Frost has negotiated a 10% discount on any polices that may suit your needs.
However, neither Ken Frost nor HMRCISSHITE either endorses or recommends their services.
What is Solar Tax Investigation Insurance?
Solar Tax Investigation Insurance is a tax-fee protection service that will pay up to £75,000 towards your accountant's fees in the event of an HM Revenue & Customs full enquiry or dispute.
To find out more, please use this link Solar Tax Investigation Insurance
Tax Investigation for Dummies, by Nick Morgan, provides a good and easy to read guide for anyone caught up in an HMRC tax investigation. A must read for any Self Assessment taxpayer.
Click the link to read about: Tax Investigation for Dummies
HMRC Is Shite (www.hmrcisshite.com), also available via the domain www.hmrconline.com, is brought to you by www.kenfrost.com "The Living Brand"
I reiterate a comment made yesterday. How many of these 830000 will voluntarily comply and register for SA? Human nature being as it is, it's likely that most people affected will ignore the situation. No link between a single £50,000+ wage earner and a single partner who receives the benefit, other than a shared address, and no details of children on tax records. So how will all couples affected be tracked down?
ReplyDeleteI suspect that self employed will use clever accounting to avoid the clawback while PAYE won't be able to avoid it.
ReplyDelete