HIGHER INCOME CHILD BENEFIT CHARGE
If you, or your partner, earn more than £50,000 per year and you claim Child Benefit then you will meet criteria to complete self-assessment tax return each year.
This is because if you have any earnings over £50,000 per year then Child Benefit starts to become restricted. Once your income is over £60,000 per year, you will lose the entitlement to this benefit altogether. You will lose 1% of the Child Benefit entitlement for every £100 that you earn over £50,000.
Speak to us today and we can calculate the Child Benefit Higher Income Charge and assist with your required tax return.
cONTACT AN EXPERT today
We have prepared a help sheet specifically for those who have disposed of an asset and made a Capital Gain which is liable for tax, so please contact us today to request this help sheet.