Time is running out for higher income parents to register for Self Assessment September 10th, 2013 admin Latest News Shares Comments Time is running out for higher income parents to register for Self Assessment Higher income parents currently receiving Child Benefit have three weeks to register for Self Assessment with HM Revenue and Customs (HMRC) in order to avoid a penalty. Parents who stopped receiving Child Benefit payments before 7 January 2013 do not need to take any action. However, parents who stopped receiving payments after 7 January or who are continuing to receive Child Benefit, and with income over £50,000, must register for Self Assessment for the 2012-13 tax year by 5 October 2013. This will enable them to declare the Child Benefit received, pay the tax charge on time and avoid penalties for failure to notify HMRC on time. More information on whether people need to register for Self Assessment can be found at: hmrc.gov.uk/yourtaxreturn Submit News Contact us with your community, business or sport news. Phone 07930717137 Email [email protected] Twitter www.twitter.com/onthespot_news Related Comments comments!