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Child Benefit is receivable by a person responsible for each child who is under 16, or 19 if they stay in education or training.
If the person (or their spouse or partner) has 'adjusted net income' above £60,000 the person with the highest income has to pay some of the Child Benefit as a tax charge.
Where 'adjusted net income' is more than £80,000 a year, the tax charge equals the Child Benefit received.
Figures have shown that UK borrowing over the last financial year was £7.6 billion lower when compared to the year before.
25 Apr 2024
Data published by HMRC has revealed that inheritance tax (IHT) receipts rose to a record high of £7.5 billion in the 2023/24 tax year.
24 Apr 2024