Part 10Social security income

F1CHAPTER 8High income child benefit charge

681CThe amount of the charge

(1)

The amount of the high income child benefit charge to which a person (“P”) is liable for a tax year is the appropriate percentage of the total of—

(a)

any amounts in relation to which condition A is met, and

(b)

any amounts in relation to which condition B is met.

For conditions A and B, see section 681B.

(2)

“The appropriate percentage” is—

(a)

100%, or

(b)

if less, the percentage determined by the formula—

ANI – L X %

Where—

ANI is P's adjusted net income for the tax year;

L is F2£60,000;

X is F3£200.

(3)

If—

(a)

the total of the amounts mentioned in paragraphs (a) and (b) of subsection (1), or the amount of the charge determined under that subsection, is not a whole number of pounds, or

(b)

the percentage determined under subsection (2)(b) is not a whole number,

it is to be rounded down to the nearest whole number.