Martin Lewis issues warning to parents over HMRC Child Benefit changes
manchestereveningnews.co.ukMartin Lewis has issued a warning to parents who may be confused over the changes to Child Benefit. Chancellor Jeremy Hunt confirmed in the Spring Budget that the threshold for what a person earns before they take penalties on Child Benefit, which they have to pay back, take place.
While it was previously held at £50,000, it has now been extended to £60,000. While for many parents this expands the availability of the full Child Benefit, it doesn't fix all of the previous issues, as Martin explained in this week's episode of his ITV show.
One viewer asked Martin to clarify if she would have to pay back last year's Child Benefit penalties or if it will be "written off" since the threshold has now been increased. Read more: New HMRC Child Benefit rates for April as rule change means thousands more parents eligible Martin explained: "I would say no, there's no whatsoever, this is about changes that only start going forward.
Going back, if you owe it, you owe it. "That's why it's very important for anyone now who's earning in these thresholds, you're going to have to pay it.
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