Cashflow – Consider reclaiming child benefit

Individuals who have made an election to stop receiving child benefit due to the high income child benefit charge (HICBC) may wish to consider revoking the election in order to restart their claim.

 The child benefit may need to be ultimately paid back via the self assessment tax return, but it can help a little towards easing immediate cash flow concerns.

The election can be revoked by completing a form online via the GOV.UK website (a Government Gateway account is necessary) or by contacting the Child Benefit Office by telephone on 0300 200 3100. The election must be revoked by the person who originally made it, which is the person who is to receive the child benefit. Child benefit will start to be paid again from the Monday following the call or receipt of the form. However, if neither partners’ adjusted net income is expected to exceed £60,000, the revocation can be backdated to the start of the tax year. See the High income child benefit tax charge ― advising the taxpayer guidance note for more details.