Child Benefit could be claimed by hundreds of thousands of parents (Image: Getty Images/iStockphoto)
Parents nationwide are being urged to apply for Child Benefit, which could provide them with up to £2,212 a year in additional financial support. The benefit is designed to assist parents raising children under the age of 16 (or 20 if they remain in education or training), with no cap on the number of children parents can claim for.
A family can receive £25.60 a week for their eldest child and an additional £16.96 a week for any other children. This amounts to £1,331.20 a year for one child and £2,212.60 a year for two children.
According to the latest data from HM Revenue and Customs, six million families across the UK are receiving payments from Child Benefit. However, thousands of families could still be missing out on this extra financial support.
Data obtained by indicates that approximately 214,000 eligible parents do not apply for Child Benefit each year. An added advantage of the benefit is that it awards National Insurance Credits, which could help boost some parents’ .
Generally, a minimum of 10 years’ worth of credits are required to claim the , while 35 years of credit are typically needed to receive the full . This is particularly beneficial for parents not in paid employment and those not receiving NI credits from their employer.
High Income Warning
The main disadvantage of Child Benefit is the high income charge. If either a parent or their partner’s income exceeds £60,000 per annum, they may be subject to an additional charge on their benefit.
This continues until a parent’s individual income surpasses £80,000 – at which point the entire benefit amount must be repaid, essentially rendering it useless unless you become unemployed and require the benefit for the NI credits it offers.
How to Apply for Child Benefit
To initiate a claim for the benefit, a family will need their National Insurance number and that of their partner, if applicable. They will also need the child’s original birth or adoption certificate and passport or travel document, for children born outside the UK.
Additionally, they will need their child’s birth or adoption certificate and their bank account details. A claim can be made from 48 hours after the birth of a child has been registered or once a child comes to live with you.
Moreover, a claim can be backdated up to three months. It’s crucial to remember that only one person can receive Child Benefit for a child. Therefore, if there are two parents, you will need to decide who will receive the payment.
This will also be the person who receives the National Insurance credits from the claim, which may influence your decision. Child Benefit applications can be submitted online via the , where a form will be provided for completion.
In certain instances, you may need to print and post the filled-out form to , along with any necessary supporting documents.