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Child benefit warning that could force parents to pay the money back later on

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www.mirror.co.uk

Parents are being warned that a change in their salary or a new partner might mean they have to pay back some or even all of their child benefit.

Child benefit is money paid to parents or other people who are responsible for bringing up a child. Anyone can claim it, however if you earn more than £50,000 you have to repay some of it back in through a self-assessment tax return at the end of every tax year.

Those who earn £60,000 have to pay it all back. And quite a few people might not realise this money needs to be paid back later, Wales Online reports.

The biggest problem occurs when parents get pay rises after filling out the form to claim credit - or meet a new partner who earns over the limit.

Read more on mirror.co.uk
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