344. High income child benefit charge in general.

The high income child benefit charge is levied on taxpayers with income of more than £50,000 in a tax year where either they or their partners receive child benefit in at least one week in that tax year1.

The charge is the lesser of:

  1.  

    (1)     the total child benefit received by the taxpayer or the taxpayer's partner; and

  2.  

    (2)     1 per cent of the total child benefit received per extra £100 of income that the taxpayer earns over £50,000 a year2.

If the taxpayer's income is above £60,000 a year, the charge will match exactly the child benefit payments received by