Avoid Loss of Child Benefit

The Guardian ran an article by a parent earning just over £50,000 explaining how he had to carefully work through the figures to establish how much benefit he stood to lose in respect of his two children under the rules coming into effect in January. He pointed out that the HMRC letter fails to explain how to work out the relevant figure for ‘income’, which is not what most people would think it is. But he also worked out that a modest increase in his pension contributions – which he knew he ought to do anyway – would mean he kept £350 a year in child benefit he would otherwise lose.

If either parent earns over £50,000 and you have not already reviewed your position, contact us for help in avoiding loss of child benefit.