As has been widely reported in the media the coalition government has announced a significant change to Child Benefit from 2013. Child benefit will no longer be universal and will be withdrawn from families where one earner is earning more than the £43,875 threshold for 40% income tax bracket.

There has been widespread criticism of the plan, with many people pointing out the unfairness whereby a single parent earning £45,000 will lose their child benefit, but a couple where both partners are earning £43,000 each will have a household income of £86,000 but will be entitled to keep their Child Benefit.

For more information on Child Benefit visit HM Revenue & Customs: Child Benefit: Introduction