Home Finance Child Benefit increases: How much is Child Benefit going up this month?

Child Benefit increases: How much is Child Benefit going up this month?

0


You don’t have to claim Child Benefit payments if you feel you don’t need them.

The Government advises even those who choose not to get Child Benefit payments to fill in and send off the claim form and state that you won’t be claiming.

If you claim Child Benefit and you or your partner earn more than £50,000, you may have to pay back some of the benefits in tax.

This tax is called the High-Income Child Benefit Tax Charge and it was brought in in January 2013.

It does not matter if the child living with you is not your own child – you will be taxed if you earn over this amount.

Claimants must report any change of circumstances to the Child Benefit Office.



LEAVE A REPLY

Please enter your comment!
Please enter your name here