The complicated rules on claiming child benefit are landing some parents with shocking tax bills and causing administrative hassle.
Since 2013 those who earn more than £50,000 a year have to pay back some of the child benefit they receive: £1 of every £100 earned over the threshold. If you earn more than £60,000, you’ll need to repay all of it.
One family has just had a £7,400 bill from HMRC because the sole earner was bringing home less than £50,000 a year, but his company car was classed as a benefit in kind, propelling him over the threshold. Be sure to register for child benefit if you earn over £50,000.
A stay-at-home parent who hasn’t won’t get National Insurance credits that build up their state-pension entitlement while they are looking after their children. Your children may also have trouble getting a National Insurance number if they’ve never been on the list.
If you earn over £50,000 then you sign up and pay the High Income Child Benefit Charge via your tax return. Earn over £60,000 and you still need to register, but you can opt not to receive the payments. You will still get any National Insurance credits due, but you won’t have to pay the tax charge.
Motivational Quote Of The Day
“The secret of getting ahead is getting started.”
Agatha Christie
Alternative Quote Of The Day
“By the time you’re eighty years old you’ve learned everything. You only have to remember it.”
George Burns
Dinner With The Dead
When Na-yeon died four years ago aged seven, her mother, Jang Ji-sung, turned to technology to bring her back. Millions in South Korea tuned in to ‘Meeting You’, a television programme in which Jang donned a virtual-reality headset and sat down to her meal of seaweed soup with the avatar of her daughter.
The digital Na-yeon couldn’t respond to Jang’s words, but could ask “Where have you been, Mum? Did you think about me?” At one point, they appear to hold hands. “Maybe it’s a real paradise,” Jang said afterwards. “I met Na-yeon, who called my name with a smile. It was a very short time, but a very happy time.”
Others aren’t so sure, saying ”Having this type of interaction through an avatar could present a real challenge for some people in accepting the reality of the death.” London-based Peter Trainor, founder of Us Ai, agrees.
He worked with James Dunn, a young man with a rare condition, to create an algorithm that would mimic Dunn’s personality after his death, aged 24. In the end, Trainor shut down the company, he says. “We were beginning to attract the wrong sort of attention.”
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