The taxman will be sending out letters this Autumn asking people to sign away their child benefit or have it clawed back through the tax system.

Households with at least one person earning more than £50,000 a year will receive letters from HM Revenue & Customs this Autumn warning them they are about to lose some or all of their child benefit. The benefit has been universal up to now but is being cut from those with larger incomes. Hundreds of thousands of people will receive letters about the change, which is implemented in January. Tax officials estimate that 1.2 million families will be affected. Child benefit is paid to 7.9 million families currently, regardless of income. About 70 per cent have someone earning more than £60,000 and will therefore lose all child benefit – the rest will receive some benefit as the amount you can receive is tapered so that those earning under £50,000 will receive total child benefit, those earning more than that receive gradually less and those earning over £60,000 will receive no benefit.....Read more here: Taxman urges parents to sign away Child Benefit