HMRC has issued a critical alert to eligible families, urging them not to miss out on claiming up to £1,331 a year in Child Benefit, with the possibility of receiving the first payment within just three days.
Child Benefit is designed to support parents or guardians responsible for children under 16, or up to 20 if they are in approved education or training. The benefit pays out £25.60 weekly for the first child and £16.95 for each additional child.
However, it’s crucial to note that Child Benefit isn’t automatically paid you must register to receive it. HMRC highlighted this in a recent social media update, stating: “Got a newborn? Don’t miss out on up to £1,331 a year with Child Benefit. Apply online to get your first payment in as little as three days.”
Recent changes to Child Benefit rules mean that more higher-income families can now qualify for these payments. The income threshold at which you’re required to repay Child Benefit has increased from an annual £50,000 to £60,000.
If a household member earns over £60,000, the benefit repayment rate kicks in at 1% for every £200 earned above this limit, reports the Mirror.
For those earning above £80,000, the entire Child Benefit must be repaid effectively reducing the benefit to zero. Previously, the full repayment threshold was set at £60,000.
To claim Child Benefit, you must reside in the UK and have responsibility for a child.
This typically implies that they reside with you, or you contribute at least the same amount as Child Benefit towards their care. If two individuals care for a child, only one can claim Child Benefit.
You’re eligible to claim Child Benefit if you’ve fostered a child, provided the local council isn’t contributing towards their accommodation or upkeep. Child Benefit is also accessible if you’ve adopted your child, as well as in certain situations where you’re caring for a friend’s or relative’s child.
