uk iconUK

HMRC refunds £1.8m child benefit tax penalties

HMRC has made £1.8m in refunds to nearly 5,000 taxpayers as a result of cancelling ‘failure to notify’ penalties in high income child benefit charge (HICBC) cases, on the grounds they had a reasonable excuse.

HMRC refunds £1.8m child benefit tax penalties
smsfadviser logo

The raft of cases related to higher rate taxpayers who had not informed the tax authority that they would opt out of child benefits as they earned over £50,000 after complicated changes to child benefit payments introduced by former Chancellor George Osborne from 2013.

Read more at the Accountancy Daily.

Subscribe to Financial Accountant

Receive the latest news, opinion and features directly to your inbox