CHILD BENEFIT TO BE SCRAPPED FOR HIGHER RATE TAXPAYERS

06 October 2010

At the conservative conference this week the Chancellor announced that child benefit is to be axed for higher-rate taxpayers from 2013 to help pay for a massive overhaul of the welfare system.

The move will affect couples where one parent earns enough to pay 40% tax but two earner households where neither parent’s income is above this threshold will continue to receive the benefit. Mr Osborne also revealed the total state benefits one family can claim in future will be capped at about £26,000.

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CHILD BENEFIT TO BE SCRAPPED FOR HIGHER RATE TAXPAYERS

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