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Taxionary

Child Benefit

[ʧaɪld ˈbɛnɪfɪt]

Term

Summary:

Child Benefit is tax-free support for families with children. Higher income families may have to pay back some or all of the benefits they receive.

More detail:

Child Benefit is a form of financial assistance provided to eligible families to help with the cost of raising children. It is a tax-free payment available for families with children under 16 years old or 20 year olds in full-time education.

For the 2023/24 Tax Year, families can claim £24 a week for their first child, and £15.90 a week for subsequent children. The existence of the High Income Child Benefit Charge means that higher income families are required to pay some or all child benefit back

Families also receive National Insurance credits automatically if they claim child benefits.

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