HM Revenue and Customs (HMRC) recently implemented the new weekly payment rates for people claiming Child Benefit or Guardian’s Allowance. Both benefits are means-tested, however, household income below £50,000 or savings do not impact the amount a person receives and you do not need to have paid any National Insurance contributions to get it.
The weekly payment is now worth £24.00 for an eldest or only child and £15.90 for additional children. The payment is made to people who are responsible for bringing up a child aged below 16 or a young person under 20, if they are still in full-time education or on certain approved training courses.
The benefit is paid every four weeks in arrears, either on a Monday or a Tuesday, and there is no limit to how many children a parent or guardian can claim for. However, if your Child Benefit payment amount changes and you’re not sure why, money experts at Income Tax have shared four possible reasons, including how May 31, 2023, could be the last payment date for some parents or guardians.
