08/10/2026
Are you receiving Child Benefit but unsure about the High Income Child Benefit Charge? Many parents don’t realise that if you or your partner earn over a certain threshold, you may have to pay back some or all of your Child Benefit.
For the 2024-2025 tax year, if your income exceeds £60,000, the charge kicks in. This means for every £200 over that amount, you’ll repay 1% of your benefit. If you earn over £80,000, you’ll pay it all back.
Ignoring this can lead to unexpected tax bills and confusion.
Here’s how LTG Accountants can assist you:
- Calculate your adjusted net income
- Advise on whether to keep or opt out of payments
- Help navigate the tax charge and payment options
- Provide guidance on necessary reporting to HMRC
Ready to understand your tax situation better? Get in touch with us today!
👉🏻 Find out more at: https://www.ltg.accountants/.