High income child benefit tax charge

The income tax charge for individuals with taxable income exceeding £50,000 per year where they, or their partner, receive child benefit was introduced with effect from 7 January 2013.

  • You will not be affected if neither you nor your partner have income of more than £50,000.

  • You will not be affected if neither you nor your partner receives child benefit.

  • In many cases it will be simpler (and in some cases cheaper) to avoid the charge by electing not to receive the child benefit.

  • Care must be taken to preserve entitlement to benefits that depend on the individual’s national insurance contributions record, such as state retirement pension.



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For further details please contact your normal Moore Stephens adviser or download our factsheet.
 

Related links

Private client tax
High income child benefit tax charge factsheet