Child Benefit Rule change announced

Child Benefit Rule change announced

HMRC have announced a rule change for child benefit claimants with income over £50,000. If you expect your income to exceed £60,000, the point at which all child benefit is clawed back, you can opt for no benefit to be paid in the first place.
However, HMRC have announced that if the higher person’s income unexpectedly drops below £60,000 the election not to receive child benefit can be revoked, no later than two years after the end of that tax year.
The guidance and forms can be found at Child Benefit Guidance

/ blog

Share the Post

Comments

No comment yet.

Leave a Reply

Your email address will not be published.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