State pension UK: Parents could boost amount by claiming National Insurance credits | Personal Finance | Finance
“HMRC has collected £18.9million in fines from people who failed to pay the High Income Child Benefit Tax Charge since its introduction in 2013.
“More than 500,000 families with children have opted out of receiving Child benefit to avoid having to pay it back.”
For these people, many warnings have been issued by the Government and financial experts.
The Government website, for instance, states by claiming Child Benefit, a person can “get National Insurance credits which count towards your state pension”.
The warning adds: “If you choose not to get Child Benefit payments, you should still fill in and send off the claim form.”
On the CH2 form, parents and guardians can declare they wish to waive the payments, but tstill get the NI credits.
It’s something which Kay Ingram, Director of Public Policy at LEBC Group, has warned about.
“Parents not paying NI contributions through employment or self-employment may claim credits, which are automatically provided when claiming Child Benefit,” she said.