We wanted to bring to your attention some important changes regarding the High-Income Child Benefit Charge (HICBC) that will come into effect from 6 April 2024.

Increased Threshold: 

The HICBC threshold will be raised to £60,000 from the current £50,000. This means that individuals earning up to £60,000 can now claim Child Benefit without being subject to the charge.

Clawback Range: 

The clawback range for the HICBC will remain between £60,000 and £80,000. If your income falls within this range, you may still be eligible for Child Benefit, albeit with a partial charge.

Consider Restarting Claims: 

Given these changes, it may be worthwhile for those who previously stopped claiming Child Benefit due to the income threshold to reconsider. Restarting the claim could provide valuable National Insurance (NI) credits, especially if one of you is not currently employed.

Navigating Changes: 

At Jerroms, our team of experts is here to assist you in navigating these changes seamlessly. Whether you have questions, or need guidance, reach out to your usual Jerroms contact or contact us.