Mar 14, 2023
Budget 2023: Why more parents face losing child benefit
In 2013, the government changed the rules so people who get child benefit start losing it once they earn £50,000 a year. He said the combination of losing some child benefit and having to pay some extra childcare costs meant "It just didn't work". If you earn more than £50,000, your child benefit starts being gradually withdrawn, such that if you earn £60,000, you don't receive any child benefit at all. So if two parents earn £50,000 each they still get full child benefit, but if one earns £60,000 and the other isn't working they don't get any child benefit. If the thresholds had been adjusted in line with rising prices since 2013, you would now start losing child benefit when you earn more than about £65,000 and lose it completely from about £78,000.
Related companies
Make a complaint about Budget by viewing their customer service contacts.
