From 6th April 2024, the threshold at which child benefit begins to be withdrawn increases from £50,000 to £60,000. This is the first increase since it was introduced in 2013.
The earnings at which the benefit is withdrawn has also increased from £60,000 to £80,000.
If you have income between £60,000 and £80,000, you will be required to pay back 1% of the child benefit received for every £200 of income, over £60,000. Once you are earning £80,000, the whole of the child benefit received will be repayable to HMRC.
Child benefit is due to rise to £25.60 per week for the first child and £16.95 per week for each additional child in April 2024.
If you have any questions about this, please call Sindy on 0113 2864486
Our Services
-
Refer a Friend
Do you know a friend in business who could benefit from keeping more of the money they earn? Spread the word and get rewarded! 💡 How it works: Introduce us – Tell your business friends about Business Works.Share their details – If they’re interested, email admin@businessworksuk.co.uk with: Their Name Business Name Email Address Phone […]
-
Other Accounting Services
We offer a full range of supplementary accounting services and complimentary business services that will help your business thrive and prosper. All our services and come with a friendly approach, which is of course, free of charge!
Pop in or give us a call
We'd love to hear from you
When it comes to supporting small enterprises, helping them grow whilst avoiding regulatory and commercial pitfalls, we have a weath of experience, expertise and a kettle - a very good kettle. If you think we could be a good fit, get in touch to see how we can add value to your business.
Contact
About us