Child Benefit Payments are set to increase from next month, to give parents and guardians extra support.
The benefit is available to parents and guardians of children, and teenagers, under the age of 16 or young adults under 20 in full-time training.
It is not a means-tested benefit, so anyone with an income less than £50,000 could be eligible.
Any savings you may have will not impact your payment rate, and you do not need to pay any National Insurance contributions to qualify, as reported by the Daily Record.
There is also no limit on how many children a parent or guardian can claim for and the benefit is paid every four weeks, either on a Monday or a Tuesday.
But from April 2022, when the new financial year starts, a new set of rates will be implemented for those receiving benefits from the Department for Work and Pensions (DWP).
HM Revenue and Customs (HMRC) confirmed changes to Child Benefit and Guardian’s Allowance payments will come in from April 11, 2022 – and we have rounded up the new rates below.
Child Benefit payment rates for 2022/23
There are two Child Benefit rates in place.
Current rates per week
Eldest or only child – £21.15
Additional children – £14.00
New rates per week – from April 2022
Eldest or only child – £21.80
Additional children – £14.45
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How much is the increase?
This is an increase of 65p and 45p respectively per week and means the new, regular four-weekly payments will be £87.20 for an eldest or only child and £56.00 for any additional children.
Over the next financial year, this means parents will receive an additional £33.80 and £23.40 respectively.
Guardian’s Allowance rates from April
The new weekly rate for Guardian’s Allowance will be £18.55 – an increase of 55p on the current 2021/22 rate of £18.00.