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FAQ - High income child benefit charge

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FAQ - High income child benefit charge

 

 

High income child benefit charge; who has to pay it?

You may have to pay a tax charge, known as the ‘High Income Child Benefit Charge’, if you have an individual income over £50,000 and either:

  1. you or your partner get Child Benefit
  2. someone else gets Child Benefit for a child living with you and they contribute at least an equal amount towards the child’s upkeep

It doesn’t matter if the child living with you is not your own child.

If you are affected by hte tax charge then you have a few options, you can either;

  1. Stop getting Child Benefit (also know as opting out)
  2. Carry on getting it and then pay it back at the end of the tax year

Want to find out if you are affected, then just get in touch.

Call: 01322 555 442

Email: happytohelp@bluerocketaccounting.com

 

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