The Department for Work and Pensions (DWP) has announced a change to the payment schedule for some benefits claimants. Specifically, a public warning has been issued for those receiving HMRC Child Benefit ahead of an upcoming payment adjustment.
Early Payment Due to Bank Holiday
The DWP stated on X, formerly Twitter: "Child Benefit payment update. Due to the upcoming May bank holiday, some customers may receive their Child Benefit payment early." This means eligible claimants could see their money arrive sooner than expected.
Current Child Benefit Rates
Child Benefit is currently worth £27.05 per week (or £1,406.60 per year) for the eldest or only child, and £17.90 per week for each additional child. This translates to up to £179 per month for families.
Anyone with children under 16 is eligible, as are those with children under 20 who are in full-time education or approved unpaid training. Claims can be made immediately after registering a birth or when a child comes to live with you, and can be backdated by up to three months.
Additional Benefits of Claiming
Claiming Child Benefit can also boost your State Pension. If you or your partner are not working or earn less than £129 per week, claiming Child Benefit allows you to earn National Insurance (NI) credits, which are necessary for receiving the full State Pension under HMRC rules.
However, only one parent can receive Child Benefit for a child. If two people are responsible for the same child, only one will get the payment. Consider which parent may need the NI credits when deciding who should claim.
High Income Child Benefit Charge
Higher earners should be aware of the High Income Child Benefit Charge. If you earn above £60,200, you will have to pay back some of the benefit via this charge. If your income exceeds £80,000, you must repay the full amount. You can opt out of payments but still claim to protect your NI credits.
