Changes to Child Benefit for Higher Earners: What You Need to Know

April 28th, 2024

Are you a family getting Child Benefit and one partner earns a good income? There are some recent changes to the rules that might affect you.

What's Child Benefit?

Child Benefit is a government payment you get to help with the costs of raising a child.

What's the High-Income Child Benefit Charge?

This is a system where some of the Child Benefit is taken back if one parent earns a high income. This is to make sure the benefit goes to families who need it most.

What's Changed?

Here's an example:

Let's say you have 2 children and one parent stays home without an income. The other parent earns £70,000 a year.

Important things to remember:

If you're unsure if these changes affect you, it's always best to check with the government website or talk to a financial advisor.