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Child Benefit – 2012 Budget

Article By: Rachel Baker, News Editor

Chancellor George Osborne has announced changes to child benefit in the 2012 budget.

In a household where someone has an income of more than £50,000, child benefit will be withdrawn through an income tax charge. The withdrawal will be gradual in households where somebody has income between £50,000 and £60,000.

Only those earning over £60,000 will lose the entirety of their child benefit.

More to follow.