Child benefit – the changes explained
Child benefit is changing from 7th January 2013. Households where at least one person earns more than £50,000 will have the benefit effectively reduced or stopped. Pension contributions can help reduce the loss of child benefit.
Changes to child benefit
The UK tax office is to send letters to one million households this week warning parents they may lose child benefit payments.
How does the budget affect child benefit?
Child benefit will be withdrawn through a new income tax charge which will come into effect on 7 January 2013.