Child Benefit Changes

Child Benefit Changes

Thousands of parents are expected to receive letters from HMRC this month outlining changes to the way child benefit is claimed, including details of the new claw-back charge for higher earners.

The new system, to be introduced from 7 January 2013, will impose the so-called high income child benefit tax charge (HICBC) on equivalent to 1% of the benefit received for every £100 of income on those earning between £50,000 and £60,000.

The clawback will be done via a self assessment tax return, bringing thousands into the the regime.

/ blog

Share the Post

Comments

No comment yet.

Leave a Reply

Your email address will not be published. Required fields are marked *