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Posted Wed, 06 Mar 2024 22:43:06 GMT by Mike
Hi, I changed jobs in October, and my new job PAYE will bring me over the old 50k limit for child benefit repayments. Does the new 60k limit only apply to child benefit claimed 24-25? so I'll still need to sign up and figure out a self assessment return for 23-24 year? Will i just be able to pay this 23-24 bill through PAYE with a different tax code in 24-25? I'm not expecting to go over 60k earnings at the moment so wouldn't owe anything under the new rules.
Posted Fri, 08 Mar 2024 14:08:49 GMT by HMRC Admin 20
Hi Mike,
The 60K threshold for higher income child benefit charge, HICBC, does not start until the 2024/25 tax year.
If your income is above £50K for 2023/24 and you are the higher earner then you will need to complete a Self Assessment tax return to calculate and pay the charge due.
If not yet registered you can register online at Register for Self Assessment if you are not self-employed
Thank you.

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