- 1 update
Around one million 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, which takes effect from January 7th.
The new charge will apply when a taxpayer’s, or their partner’s, income is more than £50,000 a year - and if they or their partner receives Child Benefit.
For those earning more than £60,000, the tax charge is 100% of the Child Benefit.
Between £50,000 and £60,000 the charge is gradually increased.
Information on the changes, and what steps those affected should take, can be found here.