High Income Child Benefit Charge

[Babajee85]

Hi folks,

I was getting the child benefit for the 4 kids and everythig was fine...

Recently i am blessed with another child which was born on 25th October 2023
I was just trying to add the new baby into the existing child benefit claim and found that i have to pay now child benefit charge back to HMRC because my income has increased above 50K and it is now £50,418.90 which is affective from 1st May 2023. It was 47k till 30 April 2023.

So now the question is , should i apply for the new born child benefit ? and if yes then do i need to register for slef assesment first and how much i will have to pay back to HMRC at the end of the year ...

Do i have to file the self assesment by the 4th April 2024 ?
Should i take any step before that date ?

Plese advise. I am confused with this new change..thanks

[Amber]

Do you have a partner? If so what is their immigration status?

If you choose to opt out of getting Child Benefit payment, you should still fill in the Child Benefit claim form. You need to state on the form that you do not want to get payments.

[Babajee85]

Do you have a partner? If so what is their immigration status?

Yes at the moment Spouse Visa but soon will be applying for ILR...

If you choose to opt out of getting Child Benefit payment, you should still fill in the Child Benefit claim form. You need to state on the form that you do not want to get payments.

But I want ot get the payments I am British and Benefits are on my name...I am just worryin about the above 50K thing..

[Amber]

You can choose to either:

- get Child Benefit payments and pay any tax charge at the end of each tax year or
- opt out of getting payments and not pay the tax charge

What you pay at the end of tax year depends on your income, it’s a sliding scale between £50,000 and £60,000 after £60,000 there would be no child benefit entitlement. The tax charge is equal to 1 per cent of the total Child Benefit received for every £100 earned over £50,000. This means that your Child Benefit payment will be withdrawn completely if your income reaches £60,000.

Remember you can transfer the NI credits from child benefit to your spouse to protect their NI record.

[Babajee85]

Hi Amber,

Can you please advise further ?

Do you have a partner? If so what is their immigration status?

Yes at the moment Spouse Visa but soon will be applying for ILR...

If you choose to opt out of getting Child Benefit payment, you should still fill in the Child Benefit claim form. You need to state on the form that you do not want to get payments.

But I want ot get the payments I am British and Benefits are on my name...I am just worryin about the above 50K thing..

[Amber]

I did answer you above? What more do you want to know?