Repaying Child Benefit for 2013.
We act for the wife out of a couple with two children.
The wife's income is just over the child benefit withdrawal threshold. The husband's income is more.
The wife is on self-assessment and the husband is not.
They have just realised that each thought the other had repaid the overpaid child benefit, but infact neither has.
The wife thinks that only she can do this now, and also that only she can stop the receipt of tax credits. However when we read up on this it seems the highest earner has to make the repayment. If we try and amend the wife's return for it, the calculation does not result in very much of it being repaid.
Are we correct in thinking that the only way to repay the overpaid benefit is for the husband to register for self assessment and declare the overpayment and this will result in penalties (including the £15 a day)?
Who can stop the receipt of payments going forward please?
- Clients 797 17
- Practice Company Secretarial Software recommendations please 259 5
- Lets hear it for HMRC! 342 3
- Don't HMRC collect CT anymore? 282 2
- HMRC stupidity of the day 177 2
- Newly Started Practice 732 14
- Sage Payroll 184 4
- PAYROLL - SAGE v Microsoft Payroll Manager 179 3
- Client's company struck off 837 19
- Bookkeeping software for cafe and VAT 212 3
- Simplified auto enrolment? 246 2
- Tax and children 206 1
- ACCA, ACPA, IFA, ICPA 593 8
- Does SMP and SPP go up if leave goes across 2 tax years? 404 16
- Directors obligation to notify 178 1
- Starting new accounting business 364 6
- Leaving the flat rate scheme 171 4
- error on companies house accounts 785 18
- RTI penalties 182 1
- How do we get US withholding tax back? 339 5
- QROP pension input amounts 506
- HMRC BENCHMARK EXPENSES 492
- write off loan or loan to equity swap or both 451
- EPS and CIS deductions 312
- Sole trade business in UK, but the owner works from EU 299
- Construction CIS LLP Company 292
- Stamp duty on house transfer between spouses 257
- SAGE winforecast 210
- LIVE: Budget aftermath webinar 196
- Tax Investigation - Employee Travel 184