The high income benefit charge (HICBC) was designed to limit universal child benefit for higher rate taxpayers. It is controversial as a family with two adults on £49,000 each do not pay the HICBC, whereas a family with one person earning over £50,000 is subject to the charge. HICBC has a complex charging criteria and there are confusing consequences resulting from the opt-in, opt-out claims process. Seven years since its introduction, the HICBC is in urgent need of reform to continue to be fit for purpose.
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The high income benefit charge (HICBC) was designed to limit universal child benefit for higher rate taxpayers. It is controversial as a family with two adults on £49,000 each do not pay the HICBC, whereas a family with one person earning over £50,000 is subject to the charge. HICBC has a complex charging criteria and there are confusing consequences resulting from the opt-in, opt-out claims process. Seven years since its introduction, the HICBC is in urgent need of reform to continue to be fit for purpose.
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If you do not subscribe but are a registered user, please enter your details in the following boxes:
