Parents and Guardians rejoice as Child Benefit and Guardian’s Allowance rates are set to increase next month. HM Revenue and Customs (HMRC) have released new weekly payment rates for families and guardians claiming benefits and allowances, which is due to come into effect in April 2023.
The Government presented the new rates in a proposition in November 2022 along with the news that several government benefits and state pension would see a 10.1 percent increase.
Child Benefits can be claimed by people responsible for raising children under 16 or young people under 20 who fill certain criteria, and is paid every four weeks per child. There is no limit as to how many children a parent or guardian can claim benefits for.
The new rates will see an increase of £2.20 per week for the eldest or only child, and £1.45 extra per week for any additional children in a household. This means over the next financial year, starting in April, families will receive an additional £114.40 and £75.40 respectively.
The Guardian’s Allowance will increase by £1.85 per week, landing on £20.40 up from £18.55. Also paid every four weeks, guardians will now get £81.60 per four weeks up from £74.20.
New Child Benefit payment rates for 2023/24
There are two Child Benefit rates in place, which is currently set at:
- Eldest or only child - £21.80
- Any additional children - £14.45
The new rates coming into effect in April 2023 will be increased to:
- Eldest or only child - £24.00 (£96 per four weeks)
- Any additional children - £15.90 (£63.60 per four weeks)