HMRC have announced that elections to stop receiving Child Benefit (CB) must be made before Thursday 28 March 2013, if the individual wants to prevent a higher income child benefit charge being assessed on the person with the higher income.
HMRC have posted a news item at https://www.gov.uk/government/news/child-benefit-reminder-for-higher-income-earnersconfirming the deadline.
Members may wonder why the deadline has been set as ‘before 28 March 2013’. Many people had been assuming the deadline would be 5 April.
It seems that the earlier deadline is because payments to individuals for the first few days of the tax year will be made in advance, partly due to Easter.
Members who are advising clients on such elections may want to advise them of the unusual deadline.