HMRC confirms £108.20 payment change for August | Personal Finance | Finance
Families must wait one more day for their crucial Child Benefit payments in August. HMRC confirmed that payments due over the bank holiday periods will either be delayed by one day, or paid early, depending on where you live.
Child Benefit, which amounts to £108.20 every month for the eldest child, is usually paid every four weeks on a Monday or Tuesday. However, when a payment date falls on a bank holiday, HMRC adjusts the schedule to ensure claimants receive their money as close to the usual date as possible. In Scotland, where a Summer Bank Holiday falls on Monday, August 3, payment dates will move back by one day.
Anyone due to receive Child Benefit on Monday, August 3, will instead be paid on Tuesday, August 4. Those whose payment is due on Tuesday, August 4, will receive it on Wednesday, August 5.
Later in the month, the Summer Bank Holiday on Monday, August 31, affects the rest of the UK. Anyone due to receive Child Benefit on that date will get their money early for the weekend ahead. They will instead be paid on Friday, August 28.
For each additional child, families receive £17.90 a week, meaning households with more than one child could see a larger payment arrive on the revised dates.
The changes apply only to the affected payment dates, with the usual schedule resuming afterwards. Claimants can check their usual payment schedule through their HMRC online account or on previous Child Benefit payment statements.
You normally qualify for Child Benefit if you’re responsible for a child under 16 and you live in the UK. This payment usually continues until they are 20, if they stay in approved education or training.
For example, if your adjusted net income is £62,000 – which is £2,000 over the limit – you would have to pay back 10% of your money. If you or your partner earns £80,000 or more, you must repay the full amount.
If you are a high earner, you can choose to either get Child Benefit payments and pay the tax charge, or opt out of the payments.
