The charge starts at £50,000 adjusted net income and phases out completely by £60,000, with the full amount taxed if above this threshold.

You must register for and file a Self Assessment tax return if you're liable for the charge, even if you don't usually need to submit one.

Opting out of Child Benefit can avoid the charge, but you'll lose valuable National Insurance credits, which affect state pension eligibility for stay-at-home parents.

If both partners earn over £50,000, the charge is based on the higher earner's income, and only that person needs to declare it on their tax return.

Pension contributions reduce your adjusted net income, potentially lowering or eliminating the charge, making this a key tax planning strategy.

Gift Aid donations can also reduce your income for charge calculations, providing another way to manage your tax liability.

The charge is paid through Self Assessment, with payment deadlines typically in January, so timely filing is crucial to avoid penalties.

If you're newly affected by the charge, you need to register for Self Assessment promptly to ensure compliance and avoid late registration fines.

Failing to declare the charge can result in HMRC penalties and interest on unpaid tax, so accurate record-keeping is essential.

Planning ahead with salary sacrifices or investments can help manage the charge, especially if your income fluctuates near the thresholds.