Smart Ideas for Business Growth

Child Benefit Removal!!

10 January 2013

More than a million better-off families will lose some or all of their child benefit, under rules now in force.


Families with one parent with a taxable income of more than £50,000 will lose some of the benefit, and it will be withdrawn entirely if one parent earns above £60,000.

This new High Income Child Benefit Charge (HICBC) starts from 7 January 2013.

An HMRC tool can help most combinations of households decide if they are caught by the new charge.


Income above £50,000 means paying a charge of 1% of the CB for every £100 of income above that £50,000 base level.


So if your income is £57,000 your tax charge equals 70% of the CB received.

Those with income of £60,000 or more will face a tax charge equal to the whole of their household's CB.


If you need help and advice regarding the above please contact us!


Return to News & Comments

01377 256776
Free Financial and Marketing Consultation

Contact us now for a free consultation so you can find out face-to-face what we can do. There’s no obligation, just a friendly discussion and some genuinely useful ideas to help your business thrive in the current climate.



We regularly publish new and interesting articles to help your business on our downloads

and news pages

"helping to make your business stand out from the crowd"

We're a member of the ICAEW Business Advice Service
ICAEW Chartered Accountants
Iris Open Books
EYBS are supporters of Real Driffield

Contact info.



01377 256776


• Home

Copyright © 2013 EYBS