HMRC sending £104 into UK bank accounts on Friday | Personal Finance | Finance

UK households claiming Child Benefit will get some extra cash this month thanks to new payment rates – with some set to receive their money on Friday. Child Benefit is issued by His Majesty’s Revenue and Customs (HMRC) to eligible parents or guardians who are responsible for raising a child under the age of 16, or under 20 if they stay in approved education or training.

Only one person can claim the benefit for a child, but there’s no cap on the number of children you can claim for. The benefit gives families an allowance for each child, which is paid every four weeks, and also gives claimants National Insurance credits which count towards your State Pension. Child Benefit rates were uplifted in April, at the start of the new tax year, which means claimants will now benefit from slightly higher payments each month. Under the new rates you’ll get £26.05 per week for one child – which amounts to £1,354.60 over a year – and each additional child gets £17.25 per week.

So if you have two children you’ll get £2,251.60 per year and those with three children will get £3,148 per year. But there’s no limit – other than the Benefit Cap – which means if you had four children, or five, and so on, you could get even more than £3,148, with £897 for each additional child.

Child Benefit is usually paid by HMRC every four weeks on either a Monday or a Tuesday, so parents with one child will get £104.20 per month, while those with additional children will get £69 per month – but the payment dates change if it’s due on a bank holiday.

May ends with a bank holiday which falls on Monday, May 26, meaning those who would normally receive their payment on a Monday may be paid earlier than usual. If your payment is due on Monday, May 26, HMRC has confirmed that you’ll instead be paid three days early on Friday, May 23.

HMRC said: “Child Benefit is usually paid every 4 weeks on a Monday or Tuesday. There are different payment dates if it’s due on a bank holiday.

“You can work out when you’re next going to get Child Benefit by counting 4 weeks forward from your last payment. Do not count forward if your payment was due on a bank holiday – the dates are different.

“Your payment might be delayed if the bank is closed for a public holiday on the day HM Revenue and Customs (HMRC) pays you. Check with your bank for the date you’ll get your payment.”