Child benefit is a great tax-free benefit for parents, but if you or your spouse earn over £50,000, you might need to pay some or all of it back – this is called the High Income Child Benefit Charge.
Use this child benefit charge calculator to see how much you’re entitled to, and if you need to pay any of it back.
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 £1,076.40 per year.
Whoever has the higher income: either you or your partner.
It doesn’t matter who actually received the Child Benefit in their bank account.
You’ll need to:
In short, yes.
The advantages of claiming Child Benefit:
What you can do:
With the third option you get all the benefits but you don’t need to worry about filing a tax return or paying the High Income Child Benefit Charge.
You can also restart your child benefit if you’ve stopped it.
Get your self assessment prepared for you online by certified accountants for £119
Our online tax-bot will go over your tax situation and will make sure you won’t overpay your taxes.
You can talk to one of our tax assistants at any time during the process when you have any questions.
We’ll tell you exactly what documents you need and sort them for you online. You just upload them or snap a picture with your phone.
Your certified accountant will go over your details & prepare your tax return for you to review. It will be filed on your behalf once you approve it.
We have a simple online service that guides you through the entire process. Regardless of your reasons for doing your tax return we'll help you get it done right.
We'll prepare your self assessment and help to maximise your CIS tax refund. We have the lowest fees in the industry and you don't have to pay up front if you're eligible for a refund.
Our service allows people living abroad to prepare their income tax return online. We are able to process all returns regardless of your current country of residence.
UK company directors are required to file their self assessment annually. TaxScouts handles this through a simple online process.
Long Lets, Airbnb, Capital Gains. TaxScouts will sort out your self assessment and take away the worry of tracking all the recent tax changes.
TaxScouts ensures the self employed don't overpay on their taxes. We'll help you benefit from all the tax breaks and deductions that can be applied to your return.
At TaxScouts we appreciate that tax returns are highly individual. Before you get assigned an accountant we make sure to understand your circumstances and help you build your optimal tax profile.