From 6th April 2024, the threshold at which child benefit begins to be withdrawn increases from £50,000 to £60,000. This is the first increase since it was introduced in 2013.
The earnings at which the benefit is withdrawn has also increased from £60,000 to £80,000.
If you have income between £60,000 and £80,000, you will be required to pay back 1% of the child benefit received for every £200 of income, over £60,000. Once you are earning £80,000, the whole of the child benefit received will be repayable to HMRC.
Child benefit is due to rise to £25.60 per week for the first child and £16.95 per week for each additional child in April 2024.
If you have any questions about this, please call Sindy on 0113 2864486
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