| answer text |
The High Income Child Benefit Charge (HICBC) is a tax charge which was introduced
in 2013 for recipients of Child Benefit payments on higher incomes. The HICBC applies
to Child Benefit recipients who have, or whose partner has, an adjusted net income
of £50,000.<p> </p><p>The UK has a system of independent taxation where every individual,
including each partner in a couple, is treated equally within the income tax system
and has their own personal allowance and set of rate bands which they can set against
their own income. It is a fundamental principle of independent taxation that the individual
incomes are taxed separately, and this ensures independence and privacy in their tax
affairs. Allowing transfers of income between partners would run counter to this principle.</p>
|
 |
