From summer 2025, the High-Income Child Benefit Charge (HICBC) can be collected through PAYE, meaning fewer people will need to file a Self-Assessment just for this. If you’re earning over £60,000 and receiving Child Benefit, this update could save you a bit of admin (and a few grey hairs)…
Introduced by HMRC in 2013, the High Income Child Benefit Charge applies to parents earning over £50,000 adjusted income per year. Total taxable income less pension contributions and gift-aid donations give the adjusted net income figure. HICBC places a tax charge of 1% on child benefit for each £100 above the £50,000 threshold the high-earner
A new childcare scheme is planned on being introduced next year to support working families with their childcare costs. For childcare costs of up to £6,000 per year per child, support of 20% will be available worth up to £1,200. From the first year of operation, all children under 5 will be eligible and the