{"id":4271,"date":"2024-05-14T10:51:19","date_gmt":"2024-05-14T09:51:19","guid":{"rendered":"https:\/\/new.contentdeployment.co.uk\/quilter\/?p=4271"},"modified":"2024-05-14T11:04:56","modified_gmt":"2024-05-14T10:04:56","slug":"child-benefit-shake-up","status":"publish","type":"post","link":"https:\/\/new.contentdeployment.co.uk\/quilter\/2024\/05\/14\/child-benefit-shake-up\/","title":{"rendered":"Child benefit shake up"},"content":{"rendered":"<div class=\"hd-block hd-block-paragraph\">\n<p><strong>Mr Hunt announced changes to address the unfairness in the current Child Benefit system. Previously, a couple could earn a combined income of \u00a398,000 a year (\u00a349,000 each) and receive full Child Benefit, while a two-parent family with one earner on a salary of \u00a360,000 and over, or a single parent family earning \u00a360,000 a year, wouldn\u2019t receive anything.<\/strong>\u00a0<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>The Treasury has now pledged to base the Child Benefit system on household rather than individual incomes by April 2026. In addition, the following changes to the system are being implemented from April 2024:&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-list\">\n<ul><div class=\"hd-block hd-block-list-item\">\n<li>The threshold for the High Income Child Benefit Charge will be raised to \u00a360,000 from \u00a350,000, taking 170,000 families out of paying this charge&nbsp;<\/li>\n<\/div><\/ul>\n<\/div>\n\n<div class=\"hd-block hd-block-list\">\n<ul><div class=\"hd-block hd-block-list-item\">\n<li>The rate of the charge will be halved, so that Child Benefit is not lost in full until an individual earns \u00a380,000 per annum&nbsp;<\/li>\n<\/div><\/ul>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>Under these new thresholds, for every \u00a3200 of income earned above \u00a360,000, individuals need to pay back 1% of the maximum amount of Child Benefit they\u2019re entitled to. Once you reach \u00a380,000 a year, the charge to be paid back is 100% of your entitlement.&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><strong><em>It is important to take professional advice before making any decision relating to your personal finances. Information within this article is based on our current understanding and can be subject to change without notice and the accuracy and completeness of the information cannot be guaranteed. It does not provide individual tailored investment advice and is for guidance only. Some rules may vary in different parts of the UK.<\/em><\/strong>&nbsp;<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Mr Hunt announced changes to address the unfairness in the current Child Benefit system. Previously, a couple could earn a combined income of \u00a398,000 a year (\u00a349,000 each) and receive full Child Benefit, while a two-parent family with one earner on a salary of \u00a360,000 and over, or a single parent family earning \u00a360,000 a [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":4274,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[32,77,38],"tags":[],"hd_content_source":[],"_links":{"self":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts\/4271"}],"collection":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/comments?post=4271"}],"version-history":[{"count":8,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts\/4271\/revisions"}],"predecessor-version":[{"id":4282,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts\/4271\/revisions\/4282"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/media\/4274"}],"wp:attachment":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/media?parent=4271"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/categories?post=4271"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/tags?post=4271"},{"taxonomy":"hd_content_source","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/hd_content_source?post=4271"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}