Personal Tax: Enter High Income Child Benefit Charge (HICBC)

Article ID

personal-tax-enter-high-income-child-benefit-charge

Article Name

Created Date

6th August 2021

Product

Problem

IRIS Personal Tax: How to enter High Income Child Benefit Charge? (HICBC)

Resolution

Load the client in PT
Reliefs
Miscellaneous
High Income Child Benefit charge

IRIS version 24.2.0 – IRIS PT has been updated to cater for the High Income Child Benefit Charge (HICBC) changes effective for the tax year 2024/25. Revised Income Thresholds: Computation report has been updated to reflect the same. The income threshold for HICBC has been increased to £60,000 for the tax year 2024/25. A £60,000 limit has been incorporated at which point the calculation is invoked. Taper band has been increased from 10,000 to 20,000 – 1% of child benefit will be clawed back for each £200 of income above the threshold.

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