Child Benefit will increase in April due to increased cost of living. Here’s everything you need to know about it, including how much more you’ll get
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Payment is made to a parent or guardian who is responsible for the upbringing of a child under the age of 16 or a youth under the age of 20 who is studying full-time or in specific approved courses. .
To be considered responsible for a child, one would need to live with them – or spend at least the amount of Child Benefit on things like food, clothing or pocket money to take care of them.
Benefit payments are made once a month to parents and weekly to single parents or anyone who is being supported by other programs such as Income Assistance.
Here’s everything you need to know when and how much the Child Benefit rate will increase.
When will Child Benefit payments go up?
The new payments are due from April 11.
How much Child Benefit will I get a week?
Currently, there are two levels of Child Benefit – £21.15 a week for the oldest child and £14 a week for any additional children.
This means for a child it works to £84.60 a month or a little over £1,000 a year.
Benefits for any child after the first will be £56 a month or a little over £700 a year.
From April, these weekly payments will increase to:
- Firstborn or only child – £21.80
- Additional Child – £14.45
How much is the increase?
This is an increase of 65p and 45p per week respectively and means that new, regular four-week payments will be £87.20 for an eldest or only child and £56 for any additional children.
The country is currently rocked by a series of skyrocketing prices that will make families Discount £2,000 a year .
The Mirror reports that the average home will pay a record extra £693 in energy costs from April due to an increase in the price cap set by the regulator Ofgem.
A quarter of all UK households are expected to fall into poverty due to the rise of these bills.
If that is not enough, the cost of other goods will also increase.
Last month, The Mirror reported that thousands of Britons have HMRC benefits are paid to Post Office card account just weeks left to redirect their payments .
If you don’t redirect benefits before this date, HMRC will hold your payments until you contact them.
You can update your Personal Tax Account or Child Benefit Account online at Gov.uk or by calling 0300 200 3100.
https://www.mirror.co.uk/money/child-benefit-payments-set-increase-26370208 Child benefit payments are set to increase in the weeks - here's how much you'll get