Families with one child will receive up to £1,331 over the new financial year.
HM Revenue and Customs has confirmed that millions of families who claim Child Benefit will automatically receive increased payments from April 6, 2024. Families with one child will now receive up to £1,331 a year - an annual increase of £83.20, and up to £881 a year per additional child, which is an annual increase of £54.60.
HMRC is also encouraging parents with a newborn baby to make a claim online as soon as possible as they could receive their first payment in as little as three days. It’s also worth being aware that Child Benefit claims can be backdated by a maximum of three months. Top Money Stories Today Changes to the High Income Child Benefit Charge From April 6, 2024, families where the highest earner has a salary of up to £60,000 a year will not be subject to the High Income Child Benefit Charge . Previously, a person who had an annual income of £50,000 or more would be liable to pay the charge if they or their partner were receiving Child Benefit.
Latest Benefits News For those earning between £60,000 and £80,000, the amount of Child Benefit they are entitled to receive reduces as income increases within this range. If an individual’s income exceeds £80,000 the HICBC will be equal to the Child Benefit payment.
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Millions of parents to benefit from increased Child Benefit paymentsHM Revenue and Customs (HMRC) has confirmed that millions of parents will benefit from increased Child Benefit payments from later this week - worth an extra £83.20 a year for families with one child. Child Benefit claimed for additional children is also increasing, going up by £54.60 per year, with no limit on the number of children that can be claimed for. All of these changes will come into effect from April 6. This means that families will receive an annual payment of up to £1331 for their first child, and up to £881 for every child after that. Increases in payments are added on automatically, so parents should see the benefits boost when it lands in their bank accounts.
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