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Child Benefit: Safety Net and Contingency Plan

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Child Benefit: Safety Net and Contingency PlanParents who choose not to get child benefit in order to get out of the obligation to pay the tax will be able to get the benefit should their income eventually fall, according to the announcement of the taxman. There have been some fears from some of the parents saying that they might find it difficult to claim the benefit if needed especially if they have chosen to opt out of the system. However, in a letter that was sent to the taxpayers, the tax department said that they “would be able to restart their payments if their circumstances change.” Furthermore, according to Patrick Stevens who is the president of the Chartered Institute of Taxation, “There has been extensive confusion over the new child benefit charge, partly because of the way the legislation has been produced and partly because of the options available.

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