Martin Lewis has confirmed that energy customers can save money by switching providers 'at last'.
27.11.2023 - 17:35 / manchestereveningnews.co.uk
Martin Lewis has pointed out that "it isn't fair" after someone complained to him about an extra benefit charge.
The money-saving expert weighed in on the fact that those earning a certain amount wouldn't receive high-income child benefit charge. According to the government, you have to pay the charge if you or a partner have an individual income above £50,000 in the case that either get Child Benefit or someone else gets Child Benefit for a child living with you while they contribute at least an equal amount towards said child's upkeep.
Because of the strict regulation behind the charge though, one person pointed out to Martin how someone earning just below the threshold are able to dodge the charge. Martin posted the issue to his followers on Instagram, while lamenting that it simply "isn't fair".
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He wrote: "I was just asked, "I've recently received a high-income benefit child benefit charge. I earn £53,000 my wife £12,500. Yet I've read if we both earned £49,000, we wouldn't have received the charge. How is that fair?" Their info is correct."
He added: "The answer sadly is simple: It isn't fair." However, he noted that those affected by this could "look at increasing pension contributions to reduce income below the threshold but of course this'd take disposal income."
The charge is generally paid through a self-assessment tax return which is issued to HM Revenue and Customs (HMRC). Currently, the only way to get out of paying the charge is to simply opt out of receiving Child Benefit payments - in this case you will still be entitled to Child Benefit in the
Martin Lewis has confirmed that energy customers can save money by switching providers 'at last'.
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