Child Benefit is a key supportive payment given to parents to assist them financially in raising their children. As the coronavirus crisis force families into financial hardship, benefit payments like Child Benefit have become more essential. So is the amount increasing in April for the 2020/2021 tax year?
What is Child Benefit?
Child Benefit is a payment to parents, carers and others who are responsible for bringing up a child in England, Wales, Scotland and Northern Ireland.
There are no specific age rules for the person making this claim and it is a non means-tested benefit payment.
Child Benefit is not subject to taxation but will incur charges for those who earn more than £50,000.
You can use this Child tax calculator to see how much tax you may be charged.
Once you earn more than £60,000 you lose all of the benefit payment through tax.
- Child benefit: Is child benefit included in Universal Credit payment?
Who is eligible?
You are entitled to Child Benefit if you are responsible for a child:
- Aged under 16
- Aged 16 or 17 and has left education or training and meets the Child Benefit extension period rules
- Aged 16 to 20 and onwards and is enrolled in a full-time, non-advanced educational course or an approved training course, which they began, enrolled on or accepted before turning 19 years old.
How much is Child Benefit?
Child Benefit for your only or oldest child is £21.05 per week.
For every additional child, it is £13.95 per child per week.
Child Benefit is usually paid every four weeks on a Monday or Tuesday.
You can only get the money paid into one account.
Benefits increase: payments rise tomorrow [INSIGHT]
Child Benefit: New rates come in next week [EXPLAINER]
Child benefit: New rates from April 2020 – what are they? [ANALYSIS]
- Martin Lewis begs Chancellor for ‘small tweak’ – heartbreaking message
If a child belongs to a divorced or separated household, the family will still receive the same payments for each child, but the money can only be paid into one account.
However, if a divided household has two children with one staying with one parent and the other with another parent, you will both receive £21.05 a week for each child.
If two families join together, the eldest child in the new family qualifies for the £21.05 rate, while the other children will get the £13.95 rate.
Is Child Benefit rising in 2020/2021?
The new 2020/2021 tax year began on April 6.
After a five-year freeze, Child Benefit will see an increase.
As it currently stands claimants could receive two rates of £20.70 per week for the eldest children.
The amount for additional children was £13.70 per child per week.
These payments saw a relatively small rise to £21.05 and £13.95.
How to claim Child Benefit
Child Benefit can be claimed as soon as you have registered the birth of your child or they come to live with you.
It can take up to 12 weeks to process a Child Benefit claim, but these claims can be backdated up to three weeks.
To make a claim you must submit a Child Benefit claim form and send it to the Child Benefit Office.
You need to send your child’s birth certificate with the form.
If you are the parent of an adopted child, you need to send the claim form with their original adoption certificate.
You can order a new adoption certificate here.
Source: Read Full Article