Child Benefit repayments changing for thousands this summer | Accountants in Sutton Coldfield

Child Benefit repayments changing for thousands this summer | Accountants in Sutton Coldfield

The way families make Child Benefit repayments to HM Revenue & Customs (HMRC) is changing. From the summer, many families will have the option to report their Child Benefit payments and pay the High Income Child Benefit Charge (HICBC) directly through their PAYE tax code instead of filing a Self-Assessment tax return. How will it work? For eligible employed parents, the option to pay directly through PAYE will be simpler compared to Self-Assessm…