The tax year end is approaching, with the new tax year beginning on April 6.
With just over two months to go until April 5, AJ Bell’s financial analyst, Laith Khalaf has outlined some areas investors should be considering in order to make the most out of their long-term savings.
Among his suggestions, Mr Khalaf addressed ensuring parents and guardians can continue to receive Child Benefit. All parents are entitled to Child Benefit, but as soon as one of them earns more than £50,000 they will see the amount they get whittled away, before the benefit is completely wiped out when they earn £60,000 or more, he said.
However, with some local register offices operating at reduced capacity and some parents unable to go to them because of COVID-19, HMRC announced in April that claims could be made without having to register the child’s birth first.
More than 100,000 parents across the UK have been able to take advantage of this temporary change, ensuring that they receive this vital form of financial support.
But to ensure they continue to receive the benefit they should register the birth as soon as they can if they have not done so already.
Local register offices in Northern Ireland are Covid-secure and are all operating at full capacity.