HMRC raises UK Child Benefit income threshold to £60,000, increasing eligible families and benefits.

The UK's HMRC has raised the income threshold for Child Benefit to £60,000, making more families eligible for up to £1,300 annually per child. Many parents remain unaware of their eligibility, with 54% relying on credit for school expenses and 69% concerned about repayment. The benefit also provides National Insurance credits, impacting state pensions. Families with savings under £16,000 may qualify for Universal Credit and additional support.

October 02, 2024
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