Josh Laybourne
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RE: Calculating Net Adjusted Income for Child Benefit High Income Tax Charge
Hi thanks in advance for this, my Gross income is £61,500 and I make pension contributions of £2,500 a year. Following the increase would I owe the higher child benefit tax charge and be paying back the child benefit this year? It’s been calculated in my Personal tax Account for next year I owe 100% of the child benefit for 2024-2025 but I thought I’d be exempt this year following the increase of allowance from £50,000 to £60,000 to £60,000-£80,0000.