Does Prince Harry have a spare hotel room for whenever he needs to escape Meghan Markle?!
02.05.2023 - 11:21 / dailyrecord.co.uk
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.
Your Child Benefit will stop automatically on August 31 after the child turns 16, unless you let HMRC know that your child is continuing in full-time education or training or they are joining the armed forces or a government-sponsored careers programme.
If your child stays in education or training but then decides to leave, you will continue to get Child Benefit until whichever date after their 16th birthday comes first:
If you fail to update your details in time, you may still be able to claim Child Benefit, but your payments might be late.
You must inform HMRC of any changes to your circumstances as soon as possible, as this can affect how much Child Benefit you are entitled to and some changes
Does Prince Harry have a spare hotel room for whenever he needs to escape Meghan Markle?!
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