How much is child benefit and when does it stop?
MILLIONS parents are entitled to child benefit payments to help them with childcare costs.
Most parents in the UK can claim child benefit but there are still certain eligibility rules.
Parents tend to qualify for child benefit if they live in the UK and are responsible for a child under 16.
But you can also claim the help for a child under 20 if they are in approved education or training.
Previously families claiming child benefit have always had to fill out a paper form, post it, and wait as long as 16 weeks for their first payment.
However, this has recently changed and now parents can apply on the government website for the first time.
Read more on Money
Here we explain everything you need to know about claiming Child Benefit:
How much is child benefit?
Child benefit payments are usually made every four weeks, plus by claiming child benefit you also get National Insurance credits that count towards your state pension.
There are two child benefit rates, one for the eldest child and another for each further child.
The current rate for your eldest or only child is £24 per week. That's around £96 a month or £1,152 a year.
But, from April 2024 the rate for your eldest or only child will go up to £25.60 a week - equating to around £102.40 a month or £1,229 a year.
For each of your other children, it's currently £15.90 a week - equating to around £63.60 a month or £763 a year.
And, from April 6 for every other child, you'll get £16.95 a week, which is £67.80 a month and £814 per year.
When and how is Child Benefit paid?
Child Benefit is usually paid every four weeks on a Monday or Tuesday.
But you can have the money paid weekly if you’re a single parent or getting certain other benefits like Income Support.
You can get the money paid into any account, apart from a Nationwide cashbuilder account in someone else’s name.
But you can only get the money paid into one account.
How do I apply for Child Benefit?
As soon as you have registered the birth of your child, or once they've come to live with you, you can open a claim.
A full list of the documents needed for proof of identity can be found on GOV.UK.
What age does Child Benefit stop?
Child Benefit payments stop on 31 August, on or after your child's 16th birthday.
However, you can continue to claim up until they are 20 if they stay in education or training.
The office will send you a letter in your child’s last year at school, which will let you know how to confirm their plans.
You’ll also stop receiving Child Benefit immediately if your child starts paid work for 24 hours or more a week and is no longer in approved education or training.
The payments will also stop if the child starts an apprenticeship in England or starts receiving certain benefits in their own right.
Child Benefit continues for 20 weeks if 16 or 17 year olds leave education or training and register with the armed services or a government-sponsored careers service.
Can I claim Child Benefit if I earn over £50,000?
You can, but the High Income Child Benefit Charge kicks in at £50,000, meaning you'll start to be taxed on the money you claim.
From your self-assessment tax return, HMRC calculates how much you owe them in over-payments which must either be paid in full or negotiated to be paid in instalments.
But once you start earning £60,000 of more, you'll lose all of your benefit through tax.
However, the Chancellor confirmed in his Spring Budget that from April the threshold at which parents have to pay the charge will be increased to £60,000.
And in a further boost, Jeremy Hunt announced that the upper threshold to qualify for child benefit will rise to £80,000.
Even if you start having to pay tax, you can financially profit from claiming.
READ MORE SUN STORIES
You could put the child benefit into a high-interest savings account to earn money before having to pay the tax back.
Other reasons to claim include the automatic NI enrolment and state pension protection.