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Prudential: The trials and tribulations of parenthood – aka the High Income Child Benefit Charge

Tax Trust and ISA news for Financial Advisers and Paraplanners

13 Jun 2018

Prudential: The trials and tribulations of parenthood – aka the High Income Child Benefit Charge

A recent tax tribunal decision and general day to day parenting combined in my mind to once again highlight the potential pitfalls of receiving child benefits, and ways that impacts of losing this can be mitigated. Mark Devlin, Senior Technical Manager at Prudential explores. 

Parenthood does come with plenty of emotional pros and cons. There are plenty of sleepless nights and worry. But these can be offset by ‘emotional rewards’. 

There’s also the financial impact, long gone are the days when they could earn their keep as a chimney sweep! There’s varying assessments online as to the actual cost of raising a child, my favourite was in the original titles of the Simpsons when Maggie was scanned at the checkout. Her cost was displayed as $847.63, which was the price of raising a baby in America for one month back in 1989.

Read full article here.

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