The Chartered Institute of Taxation (CIOT) has welcomed a government decision not to penalise parents who opt of out receiving child benefit in order to avoid a tax charge when new rules come into force in January.
The government said that parents will be able to claim the benefit if their income subsequently falls.
From January, any household where at least one person earns more than £50,000 will have the benefit reduced or stopped.
About Nick Huber
I’m a specialist business journalist and have a particular interest in tax and technology.