{"id":206,"date":"2014-09-03T00:00:00","date_gmt":"2014-09-03T00:00:00","guid":{"rendered":"http:\/\/slacc.wpengine.com\/index.php\/what-is-hicbc\/"},"modified":"2014-09-03T00:00:00","modified_gmt":"2014-09-03T00:00:00","slug":"what-is-hicbc","status":"publish","type":"post","link":"https:\/\/slacc.co.uk\/index.php\/what-is-hicbc\/","title":{"rendered":"What is HICBC?"},"content":{"rendered":"<p>\n\tThe High Income Child Benefit Charge (HICBC) affects parents where one partner (or both) have income in excess of &pound;50,000 and either:<\/p>\n<ul>\n<li>\n\t\tyou or your partner get Child Benefit or,<\/li>\n<li>\n\t\tsomeone else gets Child Benefit for a child living with you and they contribute at least an equal amount towards the child&rsquo;s upkeep.<\/li>\n<\/ul>\n<p>\n\tIt doesn&rsquo;t matter if the child living with you is not your own child. &lsquo;Partner&rsquo; means someone you&rsquo;re not permanently separated from who you&rsquo;re married to, in a civil partnership with or living with as if you were.<\/p>\n<p>\n\tThe HICBC is a progressive tax that effectively neutralises all or part of the Child Benefit you receive. If you or your partner have income over &pound;50,000 a tax charge will be levied that recovers 1% of any child benefit you or your partner receive for every &pound;100 your income exceeds &pound;50,000. When your income exceeds &pound;60,000 all of the Child Benefit will have been paid back. The charge will need to be declared and paid by the person with the highest income.<\/p>\n<p>\n\tParents whose income exceeded the &pound;50,000 limit in the tax year to 5 April 2014, and one parent continued to receive Child Benefit, will need to submit a self assessment tax return to 5 April 2014 advising HMRC. If you find yourself in this position for the first time we can help you register for self assessment and submit a return online.<\/p>\n<p>\n\tFor parents with one or two incomes in excess of &pound;60,000 it is possible to cancel your Child Benefit and thus avoid the HICBC. To do this file HMRC&rsquo;s online request to not receive Child Benefit or call the Child Benefit Office &ndash; 0300 200 3100.<\/p>\n<!-- -->","protected":false},"excerpt":{"rendered":"<p>The High Income Child Benefit Charge (HICBC) affects parents where one partner (or both) have income in excess of &pound;50,000 and either: you or your partner get Child Benefit or, someone else gets Child Benefit for a child living with you and they contribute at least an equal amount towards the child&rsquo;s upkeep. It doesn&rsquo;t [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[1],"tags":[],"class_list":["post-206","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/206","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=206"}],"version-history":[{"count":0,"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/206\/revisions"}],"wp:attachment":[{"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=206"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/categories?post=206"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/tags?post=206"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}