Friday's Fortnightly Tax Tip 

The Chancellor has announced that from the 6th April 2024, the high income child benefit charge threshold will be increased from £50,000 to £60,000. 
 
If you currently claim child benefit and you or your partner earn above £50,000 in the tax year, 1% of the child benefit is repayable to HMRC, with 100% being repayable if you earn £60,000 or more. 
 
As of the 6th April 2024, the child benefit will only start to become repayable to HMRC on earnings above £60,000. For every £200 you or your partner earns above £60,000 in the tax year, 1% of the child benefit is repayable to HMRC, with 100% being repayable if you earn £80,000 or more. 
More information can be found here
For more guidance call the team at Holmes Accountancy on 01908 315716 or contact us here. 
 
The tax tip is provided for general guidance only; further advice should be sought, for specific issues. 
Tagged as: Child Benefit
Share this post:

Leave a comment: 

Our site uses cookies. For more information, see our cookie policy. Accept cookies and close
Reject cookies Manage settings