Friday, December 2, 2022

High income child benefit charge letters set to be delivered to Thurrock

THOUSANDS of letters will be issued during November to families affected by next year’s changes to child benefit.

The letters explain the new High Income Child Benefit Charge that takes effect from 7 January 2013.

The new charge will apply when a taxpayer’s or their partner’s income is more than £50,000 in a tax year and if they or their partner receives Child Benefit.

Information on the changes and what steps those affected should take can be found at http://www.hmrc.gov.uk/childbenefitcharge.

For those with income of more than £60,000, the tax charge is 100 per cent of the amount of Child Benefit. If income is between £50,000 and £60,000, the charge is gradually increased to 100 per cent of the Child Benefit.

Those affected will need to decide whether to keep receiving Child Benefit and pay the tax charge through Self Assessment, or to stop receiving Child Benefit and not pay the new charge. If their income is less than £60,000, the tax charge will always be less than the amount of Child Benefit, and they could lose money to which they are entitled if they stop receiving Child Benefit.

For further information visit http://www.hmrc.gov.uk/childbenefitcharge

3 COMMENTS

  1. This is simple really. If you want kids, go get a job and earn enogh money to pay for them. If you can’t do that, don’t have kids. Why should the State pay anything at all in Child Benefit?

  2. With you on that one gray64, as you say why should the tax payer pick up the tab for families that cant afford to keep their own children and then go on to have more…..

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