HM Revenue and Customs (HMRC) is urging people who may “think they earn too much” to “check again” – as they could claim free cash. People who earn less than £80,000 a year may be entitled to a HMRC benefit if they meet certain criteria.
Those who are responsible for looking after a child/children may be able to claim Child Benefit. The money entitles parents or caregivers to a sum for each child under the age of 16, or 20 if the child is still in full-time education or approved training.
If you or your partner earn £60,000 or less per year then you can claim the full amount of Child Benefit if the child lives with you, or if you’re paying the same weekly amount as the benefit towards looking after them. If a person’s salary is above £60,000, they will be subject to the High Income Child Benefit Charge.
For those earning between £60,000 and £80,000, the amount of Child Benefit they are entitled to receive reduces as income increases within this range. And if an individual’s income exceeds £80,000 the HICBC will be equal to the Child Benefit payment
Only one parent or carer can claim it per child, and HMRC is urging people to check if they are entitled to the benefit. In a recent post on X, formerly Twitter, the government department said: “Think you earn too much to receive Child Benefit payments? Check again to make sure you’re not missing out on money.”
Receiving Child Benefit also contributes National Insurance credits towards a person’s State Pension. Currently, Child Benefit gives recipients £25.60 per week for one child which amounts to £1,331.20 over the course of a year.
Each additional child gets £16.95 per week. So if you have two children you’ll get £2,212.60 per year and those with three children will get £3,094 per year.