A warning has been sent out to parents across the UK as they could be missing out on a huge benefit that can be in their pockets within just three days' time.
HMRC themselves have posted on social media to remind parents, as several of them may have forgotten.
What's the benefit?
Amidst the on-going cost of living crisis, HMRC - the government tax office - is making sure that people don't forget about the benefit.
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They wrote on X: "Got a newborn? Don't miss out on up to £1,331 a year with Child Benefit. Apply online to get your first payment in as little as three days."
In a move that looks to help UK residents, similar to the bills scheme implemented from 2022-23 to help people cope with the increase in living costs, the government have urged people to take advantage of the deal.
👶 Got a newborn? Don't miss out on up to £1,331 a year with Child Benefit. Apply online to get your first payment in as little as three days. ⬇️
How do I know if I qualify?
Parents may be wondering if they qualify for Child Benefit, and it's very simple to work out.
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You receive Child Benefit if you're responsible for raising a child who is either under 16, or under 20 but in approved education or training.
However, only one parents can get Child Benefit per child, but there is currently no limit on how many children you can claim the benefit for.
Once you claim it, an allowance will be paid to you for each child every four weeks, as National Insurance credits will count towards State Pension and a National Insurance number for the child without applying for one, as they'll get the number shortly before they turn 16.
How does it work?
There are two Child Benefit rates - the eldest is £25.60 per week, which works out to £1331.20 per year, with additional children getting getting £16.95 per week, each.
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The benefit is normally paid every four weeks on a Monday or Tuesday, though single parents or getting other benefits such as Universal Credit allows you to have the money paid weekly.
What if you split up with your partner?
If a family does get split up, you will get £25.60 a week for the eldest child, as normal.
But if you were to have two children, with one staying with each parent, both kids will get their respective parent £25.60 a week, but if both ex-partners claim for the dame child, only one will get the Child Benefit payment.
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But if you have more than the two, you'll get £16.95 per child.
What makes you responsible for a child?
If you either live with them or pay the same amount as Child Benefit towards looking after them, on things such as food, clothes or pocket money, you are responsible for that child.
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You are eligible for Child Benefit if your child is under 20 and stay in education or training, but you can also apply for Child Benefit for 20 weeks after your child turns 16, even if they leave education or training, as long as they register with a government-sponsored careers service or the armed services.
Featured Image Credit: Getty Stock ImagesTopics: Cost of Living, Money, Parenting, UK News