New Tax code

My tax code has changed to recover unpaid tax from high income child benefit from a previous year & to cover high income child benefit for the current tax year. The change to the HICB threshold means that I will only have to repay a small percentage of this year's HIBC, so will my tax code be adjusted accordingly or will I have to reclaim any overpayment later?

Hi M Mac

As the High-Income Child Benefit threshold is increasing to £60,000 from 6 April 2024, the amount of 24/25 Child Benefit you repay through your code that year should be adjusted accordingly.

Thank you

So I should get a new tax code? When will this happen?

Hi M Mac,
The tax codes for 2024/25 for the Higher Income Child Benefit Charge are being updated during the month of April with the increase in the threshold.
If the increased threshold affects your charge then yes you will receive a new code. 
Thank you.