Policy paper
Income Tax: Increasing the High Income Child Benefit Charge threshold
This tax information and impact note explains the increase to the High Income Child Benefit Charge threshold, effective from 6 April 2024.
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Details
This measure confirms the High Income Child Benefit Charge (HICBC) adjusted net income threshold will increase to £60,000, from 6 April 2024.
For individuals with income above £80,000, the amount of the tax charge will equal the amount of the Child Benefit payment.
For individuals with income between £60,000 and £80,000, the rate at which HICBC is charged is halved, and will equal one per cent for every £200 of income that is more than £60,000.
Published 6 March 2024