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New Child Benefit investigation by HMRC could lead to tax fines for some families

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dailyrecord.co.uk

HM Revenue and Customs (HMRC) is warning people claiming Child Benefi t of a new tax investigation which could see some families being issued with a fine and having their payments paused.

During the coronavirus pandemic, HMRC reduced the number of checks it made on claimants while staff were redeployed elsewhere in the business, however, it has now been given new powers to investigate the financial records of 170,000 earners who may have been wrongly awarded the benefit.

This is part of a tax avoidance measure passed by MPs last week which will allow the UK Government to claim back benefit overpayments.

Birmingham Live reports that HMRC has now started checking if parents in receipt of Child Benefit should be paying tax and that those who fail to notify the Child Benefit Office could receive fines of up to 30 per cent on top of what they owe.

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