High Income Child Benefit Charges (HICBC)

HMRC are now raising assessments going back to 2012/13 to individuals not under Self-Assessment for the HICBC.  They are also charging penalties for the failure to notify HMRC of a tax liability. 

If you or your partners earnings are over £50,000, you are obligated to either opt out of Child Benefit receipts or pay the tax charge.  HMRC have an online calculator to help you decide whether you need to pay the charge and how much is payable.

 

 

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