Thousands of New Parents Miss Out on Child Benefit
Many new parents are not claiming child benefit on time, according to HMRC. This can result in missing out on significant amounts of money.
HMRC has stated that thousands of new parents fail to claim child benefit until it is too late to receive some of the money. The child benefit is a weekly payment available to parents and guardians of children.
The benefit is £21.15 a week for the first child and £14 a week for each subsequent child. However, if the highest earner in a household has an income of over £50,000, they will have to pay back some of the child benefit as income tax, and if the income is over £60,000, they will have to pay back all of the child benefit.
HMRC advises new parents to check if they are eligible and to apply promptly to avoid missing out on the benefit.
The child benefit can be claimed online or by post, and new parents should have their National Insurance number and their child's birth certificate ready when applying.
Go Deeper
What is the child benefit?
The child benefit is a weekly payment available to parents and guardians of children, with £21.15 for the first child and £14 for each subsequent child.
How do I claim the child benefit?
The child benefit can be claimed online or by post, and new parents should have their National Insurance number and their child's birth certificate ready when applying.
Why do some parents have to pay back the child benefit?
If the highest earner in a household has an income of over £50,000, they will have to pay back some of the child benefit as income tax, and if the income is over £60,000, they will have to pay back all of the child benefit.
How much can I get from the child benefit?
The child benefit is £21.15 a week for the first child and £14 a week for each subsequent child, but the actual amount received may be lower if the household income is high.
What happens if I don't claim the child benefit on time?
If new parents don't claim the child benefit on time, they may miss out on some of the money, so it's essential to apply promptly to avoid losing out on the benefit.
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