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Posted Thu, 06 Apr 2023 13:03:12 GMT by jacw001
According to High Income Child Benefit webpage about taxable income, only interests on savings over your savings allowance is accounted for. However, when I fill in the tax return, since I have earned £400 in interest, so I have entered in the relevant box. This value did however carry over and increased my taxable allowance and increase my charge value. Given my £400 interest is within saving allowance, should I just leave it as blank?
Posted Mon, 17 Apr 2023 09:57:20 GMT by HMRC Admin 19

You do not pay tax on the amounts below the allowance however the income is included when calculating the High Income Child Benefit Charge.

Thank you.

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