- Monday, April 29, 2024
Families with one child will now receive up to £1,331 a year – an increase of £83.20, and up to £881 a year per additional child – an increase of £54.60
By: Shajil Kumar
Millions of families who claim child benefit will automatically receive increased payments from April 6.
Families with one child will now receive up to £1,331 a year – an increase of £83.20, and up to £881 a year per additional child – an increase of £54.60. There is no limit to how many children families can claim for, HM Revenue and Customs has confirmed.
Parents will receive £102.40 every 4 weeks (£25.60 per week) for the first or only child and £67.80 every 4 weeks (£16.95 per week) for each additional child.
Families with ongoing claims will get the increased benefit payment credited to their bank accounts.
Parents with a newborn baby can make a claim online and their first payment will be made in three days.
Child Benefit claims can be backdated by a maximum of three months. The upper age limit is 16 (or 20 if they’re in approved education or training).
The threshold for the high income child benefit charge has been raised to £60,000 a year from April 6, from £50,000.
If the highest earner of a family has an annual salary of £60,000 a year or less they will be exempt from this charge. This is expected to benefit 170,000 families, who are currently paying this charge.
Treasury chief secretary Laura Trott said, “We are ending the unfairness in the child benefit system, and as a result 170,000 families will no longer have to pay back child benefit, and nearly half a million families will save an average of around £1,300 next year.”
