You may have received a letter from the Taxman about the high income child benefit charge (HICBC), which is designed to claw-back child benefit from high earners.
If you or your spouse/partner claim child benefit, and either one of you have income of over £50,000 per year, your family will be subject to the HICBC to claw-back part or all of the child benefit paid from 7 January 2013. The charge must be paid by the highest earner in the family irrespective of who actually receives the child benefit.
To read the full article from our monthly tax tips newsletter click on the link below:
http://www.butterworthsaccountants.co.uk/news/tax_news/news.php?n=492