HMRC is urging people who may think they earn too much to “check again” – to see if they could get their hands on regular cash payments. Those earning under £80,000 annually could qualify for an HMRC benefit if they meet specific criteria.
Eligible people may be able to claim Child Benefit – financial support for each child under 16, or under 20 if in full-time education or approved training, that they are responsible for. If you or your partner’s income is £60,000 or below, you’re entitled to the full Child Benefit, provided the child resides with you or you contribute at least the benefit amount towards their upkeep.
However, for those earning over £60,000, a High Income Child Benefit Charge (HICBC) applies. The entitlement decreases for incomes between £60,000 and £80,000, and for those earning £80,000, the HICBC essentially wipes out all of the benefit.
Only one parent or guardian can claim per child, and HMRC is keen for people to check if they are eligible. In a recent post on X, HMRC said: “Think you earn too much to receive Child Benefit payments? Check again to make sure you’re not missing out on money.”
Child Benefit also contributes National Insurance credits towards an individual’s State Pension. At present, Child Benefit provides recipients with £25.60 weekly for one child, equating to £1,331.20 annually.
Each additional child receives £16.95 per week. Therefore, those with two children will receive £2,212.60 per year, and those with three children will get £3,094.