High Income Child Benefit Charge
August 21, 2019
Do you or your partner receive child benefit?
Did you know that you may incur a high income child benefit charge if either you or your partner earn above £50,000?
Child Benefit is available to parents who are responsible for bringing up a child. A higher amount of £20.70 a week is paid for the first child and £13.70 for other children.
However, you may incur an income tax charge if you or your partner's adjusted net income exceeds £50,000:
• If your income is between £50,000 and £60,000, the income tax charge will be 1% of your Child Benefit for every £100 of income between £50,000 and £60,000.
For example, if your adjusted net income is £55,000, you will be charged 50% of the child benefit received.
• If your income is over £60,000 the charge will be equal to the full amount of your Child Benefit.
The charge payable is calculated through your Self-Assessment and it is your responsibility to inform HMRC.
Our Self-Assessment completion starts from £75 + VAT, get an instant quote
today!
Share
You might also like
If you run a limited company, getting your Person with Significant Control (PSC) details wrong can cause more problems than you might expect — from rejected filings to penalties and awkward delays.
We previously said MTD for Income Tax Self Assessment will be a big change…” — and six months on, it really is! With April 2026 fast approaching, now’s a great time to check how things have progressed and what self-employed folks and landlords actually need to know right now.
Companies House is introducing mandatory ID verification as part of major reforms to the UK company register. Directors and PSCs who don’t verify on time could face rejected filings or penalties.