Child Benefit Tax Charge

If you are unlucky to be caught by the new rules introduced on 7 January 2013 and are thinking of opting out from the “Child Benefit” regime altogether, then please reconsider.

Not claiming child benefit could mean that some State Pension entitlement could be lost.

In our opinion you should always claim child Benefit if you are entitled to make the claim, but if you do not want to have to pay the Child Benefit Tax Charge should your relevant income exceed £50,000 then you can choose instead not to receive it.

This would make any future claim easier if your circumstances changed and your income fell below the threshold.

Talk to us to discuss your circumstances so we may help you make the right decision.