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The child benefit is simply a payment that the UK government can give to any parent who has children under the age of 16.
How much you get depends on:
You have 1 child
You get £20.70 per week for your child.
In total that’s £1,095 per year.
We’re glad you asked. Basically, when you earn more than £50,000 and you’re claiming the benefit, you may have to return some or all of it 😱
This is because in 2013, the government deemed those earning £50,000 or more a year to be high earners and so less in need of the benefit. However back in 2013, the threshold to be a higher rate taxpayer was £42,475. Today in 2022, you have to earn £50,270 to be taxed on the higher rate. That means that some basic rate taxpayers are being charged the HICBC.
Even more controversial is that the payments you owed could be backdated to 2013.
Here are the scenarios where you might owe the HICBC:
You can first of all opt out of receiving the benefits. It won’t get rid of your bill completely but it will stop charges from being added. Also there was a recent case won against HMRC that ruled that they were not allowed to backdate payments for one individual. So there may be space to fight back.
The benefit is £24 per week for your oldest child and then £15.90 a week for each of your other children. Use our calculator to work out what you can claim and what tax charge you may potentially owe back.
To claim, you’ll need to do this through HMRC’s website using their claim form. It can be done as soon as your child is born or comes to live with you. It can take up to 16 weeks, and sometimes longer, for HMRC to process your claim.
Remember, only one person can claim this benefit. If you aren’t working or earning less than £190 a week and you’re the person claiming, you’ll get National Insurance credits towards your state pension.
You can make a claim by filling out the CH2 claim form. It can be filled both by hand or online, whichever you prefer.
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