High Income Child Benefit Charge

2019-09-01T23:06:57+01:00November 16th, 2018|Categories: Blog, Taxation|Tags: , |

The High Income Child Benefit Charge (HICBC) is a tax charge which applies where the 'adjusted net income' of a taxpayer or their partner is more than £50,000 in a tax year, and they or their partner receive child benefit. The charge is equal to one per cent of a family's Child Benefit for every extra £100 of income that is over £50,000 each year. If an individual's income is over £60,000, the charge will equal the total amount of the Child Benefit. Importantly, the charge does not only apply to the recipient of child benefit or the parents [...]