Household Bills
HMRC says 270,000 opted out of child benefit
Some 270,000 people have decided to opt out of receiving child benefit following changes to eligibility rules, according to the latest figures.
Her Majesty’s Revenue & Customs (HMRC) said there was a late surge of around 80,000 during the weekend before the rule-change deadline.
Families with one parent with a taxable income of more than £50,000 will lose some of the benefit, while it will be withdrawn entirely if one parent earns above £60,000.
The benefit will be recovered through a tax charge – the High Income Child Benefit Charge – unless individuals opted out before 7 January.
The government estimates it will save £1.5bn a year as a result of the changes.
