MP is one of those to opt out of benefit (From Malvern Gazette)

MP is one of those to opt out of benefit

7:30pm Thursday 17th January 2013 in News

WEST Worcestershire MP Harriett Baldwin is among those to have opted out of child benefits.

Mrs Baldwin tweeted: “As I earn more than £65,000, I have just opted out of Child Benefit using this online form.”

The MP was among some 270,000 people in the country who have opted out of receiving child benefit, by Monday’s deadline.

Families with one parent with a taxable income of more than £50,000 will lose some of the benefit, and it will be withdrawn entirely if one parent earns above £60,000.

The benefit will be recovered through a tax charge unless individuals opted out before Monday.

There was a late surge of about 80,000 during the weekend before the deadline.

The 500,000 parents who earn above £50,000 but did not opt out in time will have the benefit clawed back through the high income child benefit charge. They will have to fill in a self-assessment tax form before Saturday, October 5, or face a fine.