The new rules for Child Benefit announced in the Budget are “seriously flawed” according to The Institute of Chartered Accountants in England & Wales (ICAEW).
New Child Benefit rules
At present Child Benefit is available to all and is not means tested.
One parent can claim £20.30 per week for the eldest child and £13.40 per week for each additional child. The benefit is available for all children under the age of 16, and in some cases can be paid until they are 20.
The government wants to change the system and remove Child Benefit from “higher earners”.
George Osborne announced in the Budget that ...