Child Benefit payments are usually paid on a different date than normal if it’s due on a Bank Holiday. Child Benefit is typically paid every four weeks on a Monday or Tuesday. People living in the UK can normally qualify for Child Benefit if they are responsible for raising a child under the age of 16 or under the age of 20, if they stay in approved education or training.
Child Benefit starts at £27.05 per week, or £108.20 every four weeks. This represents the allowance for the eldest or only child.
For each additional child, it is £17.90 per week, or £71.60 every four weeks.
There is no limit to how many children a person can claim for and only one person can get Child Benefit for a child.
Any Child Benefit payments received count towards the benefit cap.
HMRC says anyone affected by the cap will still get the full amount of Child Benefit payments but other benefits may be reduced.
An individual income is over the threshold for Child Benefit if it is:
over £50,000 for tax years up to and including the tax year 2023 to 2024
To calculate whether one’s income is over this, they must work out their ‘adjusted net income’.
This relates to their total taxable income which includes savings interest and dividends.
It’s calculated before any Personal Allowances and less certain tax reliefs, such as pension contributions and Gift Aid.
If a person’s income is over the threshold, they can choose to either:
opt out of getting payments and not pay the tax charge