Child Benefit – are you losing yours because you earn too much?

Over one million families are within the grasp of the new child benefit tax charge. A family with 3 children could be out of pocket by as much as £2,449 every year. You can’t change the rules, with financial advice families can organise their affairs to make the best of the new regime.

For example, making a pension contribution can eliminate the child benefit tax charge and give an effective rate of tax relief at 70% (where there are 3 children, higher if more). For some couples, it might be as simple as flipping existing pension saving to the highest earner.

If you want to know more contact Templegate Financial Planning on 0845 833 8837.

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