Parents who receive Child Benefit may experience adjustments in their payments due to the August bank holiday next month. Child Benefit is a financial support provided to individuals responsible for the care of a child under 16 or under 20 if they are in approved education or training. The benefit amounts to £26.05 per week for the first child and £17.25 per week for each subsequent child.
Normally paid on Mondays or Tuesdays, the upcoming bank holiday on Monday, August 25 will prompt some payments to be issued earlier than usual. According to information on the GOV.UK website, those expecting a payment on Monday, August 25, will receive it on Friday, August 22 instead, with the payment amount unchanged.
For residents of Scotland, where another bank holiday falls on Monday, August 4, Child Benefit payments due on this date will be processed on Tuesday, August 5. Child Benefit is disbursed every four weeks by HMRC and benefits over seven million families. To qualify for Child Benefit, one must reside in the UK, and the child must usually live with the claimant or have an equivalent amount spent on their care.
There is no limit to the number of children one can claim Child Benefit for, but only one individual can claim for each child. Even foster parents can claim Child Benefit if the local council does not contribute to the child’s accommodation or upkeep. For children aged 16 to 20, they must be engaged in approved education or training for at least 12 hours per week, with employer-funded courses not eligible.
High earners may have to repay a portion of their Child Benefit. The full benefit is granted if the claimant or their partner earns under £60,000 per year. Earnings over £60,000 incur a repayment rate of 1% for every £200 over the threshold, with the entire benefit returned once earnings surpass £80,000. Child Benefit can be claimed 48 hours after a child’s birth registration or after they start living with the claimant, with the possibility of backdating claims for up to three months.