In a recent announcement, HM Revenue & Customs (HMRC) has confirmed significant changes to Child Benefit payments. Families with one child will now receive up to £1,331 per year, marking an annual increase of £83.20. Additionally, families will receive £881 per year for each additional child, representing an annual increase of £54.60. The good news is that there is no limit to the number of children families can claim Child Benefits for.
The recent changes to Child Benefit aim to provide much-needed financial support to families. Whether you’re a new parent or have ongoing claims, understanding these updates is crucial. Let’s delve into the details.
Child Benefit Payment Increases
As of April 6, 2024, the revised Child Benefit rates are as follows:
- £25.60 per week for the eldest or only child (up from £24)
- £16.95 per week for younger children (up from £15.90)
Who Is Eligible for Child Benefit?
You can claim Child Benefit if you’re responsible for bringing up a child who is:
- Under 16 years old
- Under 20 years old if they stay in approved education or training
High Income Child Benefit Charge (HICBC) Changes
Previously, the HICBC would be triggered when one parent earned more than £60,000. However, this threshold has now increased to £80,000. The reduction in Child Benefit payments begins only when one parent earns more than £60,000 (previously £50,000). The HICBC rules have been adjusted to be fairer, especially for single parents and families with one high earner. The government is also considering a shift to household-based income assessment by April 2026.
How to Apply for Child Benefit
Claiming Child Benefit is straightforward:
- You can apply 48 hours after registering a birth or as soon as a child comes to live with you.
- Payments can be backdated for up to three months if you claim later.
- Apply online, by post, or by phone using essential documents such as your child’s birth or adoption certificate, bank details, and National Insurance numbers.
The increase in Child Benefit rates is automatic for existing claimants, and new claimants can apply online or via the HMRC app. Remember, the legacy of the pandemic and other global events has put pressure on living costs, but these changes aim to provide further support to parents. So, whether you’re a seasoned parent or a first-time claimant, explore your entitlements and make the most of Child Benefit.
