Child Benefit rates are set to increase in April 2024, when the new tax year begins. However, while the amount people get may rise, parents could be at risk of being taxed on the payment as their wages rise. The High Income Child Benefit tax Charge (HICBC) was introduced in 2013 and affects people with an individual income of £50,000 or more in households claiming Child Benefit. The charge increases gradually for people with incomes between £50,000 and £60,000, equal to one per cent of a family’s Child Benefit for every extra £100 of income over £50,000 each year. The tax charge will be equal …