Parents across the UK may soon benefit from financial support of up to £173 per month from HM Revenue and Customs (HMRC). This payment is aimed at assisting those whose children are engaged in approved education or training. The support provided varies significantly based on factors such as the child’s age, their educational path, and the parent’s income.
HMRC’s Child Benefit scheme offers a flat rate of £26.05 per week for the eldest child, with additional children eligible for £17.25 per week. For example, a family with two children could receive a total of £43.30 per week. The payments are designed to help cover the costs associated with raising children in education, easing financial pressures for many families.
Eligibility Criteria for Child Benefit
To qualify for Child Benefit, parents must be responsible for a child under 16, or under 20 if they are still in approved education or training. This encompasses various educational frameworks, including A-Levels and NVQs, but excludes university-level courses or BTEC qualifications.
The child must typically live with the claimant, or the claimant must contribute an equivalent amount towards the child’s upkeep. Parents who have fostered children without local council support or have adopted children may also apply. Additionally, individuals caring for a relative’s child may be eligible, although only one person can claim for any given child.
Child Benefit is issued every four weeks, typically on a Monday or Tuesday.
High Income Child Benefit Charge Explained
Parents earning over a specified threshold may need to return some or all of their Child Benefit payments due to the High Income Child Benefit Charge. For the 2024/25 tax year, this threshold is set at £60,000 of individual income. Both parents are assessed separately, meaning if one partner’s earnings exceed this amount, the charge applies.
Once an individual’s income reaches £80,000, they must repay the entirety of the Child Benefit received. As an alternative, high earners can choose to opt out of receiving the payments altogether.
Further information regarding the High Income Child Benefit Charge can be found on the HMRC website, providing clarity for parents navigating their financial responsibilities in relation to Child Benefit.
