Act now to avoid high income child benefit charge
Published by Michael Graves on Wed, 12/03/2014 - 11:26am
We are advising parents affected by the high income child benefit charge that time is running out to take steps to avoid it or reduce its impact in the next tax year.
Under the new rules, which came into effect on 7 January 2013, families where at least one parent earns £50,000 or more will see their child benefit reduced by one per cent for every £100 of income between £50,000 and £60,000, with those earning more than £60,000 losing all their child benefit.