HMRC has confirmed the proposed increase for those claiming Child Benefit and Guardian’s Allowance.
The changes will come into effect early next year, in April, meaning that anyone who receives Child Benefit or Guardian’s Allowance will get higher payments paid into their banks. The guidance has been issued following Chancellor Jeremy Hunt’s recent Autumn Statement where he confirmed that State Pension and benefits will be uprated by 10.1% from April, 2023.
Anyone who is 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 could be eligible for Child Benefit. It is also a means-tested benefit, so income below £50,000 and savings do not impact the amount a person receives and you do not need to have paid any National Insurance contributions to get it, reported the Daily Record.
