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Child Benefit Payments & the High Income Child Benefit Charge (HICBC) – Budget changes

Date:
Category:General

Due to changes announced in the Budget, if you/your partner currently have a Child Benefit claim in place but are not actually receiving the payments as one parties income is over £60K (and you would have to pay it back in full via the HICBC), you may wish to look at restarting payments from April 2024.

From that date there will be no clawback of Child Benefit, as a HICBC, if your income is less than £60K.

And…it will only be fully repayable via the charge, if income is over £80K.

Therefore, unless you are confident your/your partners income will be over £80K, it would be sensible to contact the Child Benefit Office to restart payments.

Note however, if your/your partners income is over £60K but less than £80K, there will be some HICBC and hence a self assessment tax return will be needed to declare/pay this. 

If you/your partner are in this position, but previously have not received Child Benefit payments, then you may not have completed a tax return in the past (unless you have other reasons to do so), and so would need to advise HMRC that a return will be needed from 2024/25.

Please contact us if you need any assistance with this.

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