SCHEDULE 1 High Income Child Benefit Charge
Finance Act 2012 (2012 c 14) | Legislation

SCHEDULE 1 High Income Child Benefit Charge

Section 8

The high income child benefit charge

1

In Part 10 of ITEPA 2003 (social security benefits), after Chapter 7 insert—

“Chapter 8
High Income Child Benefit Charge
681B High income child benefit charge

(1)     A person (“Pâ€) is liable to a charge to income tax for a tax year if—

(a)     P's adjusted net income for the year exceeds £50,000, and

(b)     one or both of conditions A and B are met.

(2)     The charge is to be known as a “high income child benefit chargeâ€.

(3)     Condition A is that—

(a)     P is entitled to an amount in respect of child benefit for a week in the tax year, and

(b)     there is no other person who is a partner of P throughout the week and has an adjusted net income for the year which exceeds that of P.

(4)     Condition B is that—

(a)     a person (“Qâ€) other than P is entitled to an amount in respect of child benefit for a week in the tax year,

(b)     Q is a partner of P throughout the week, and

(c)     P has an adjusted net income

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