UK parents who earn under £60,000 handed £2,214 each after HMRC change

UK parents are being urged by Lowell to check their eligibility for the HMRC Child Benefit payment as the income threshold is hiked.

UK parents are being told they CAN claim HMRC Child Benefit - as the income threshold increased to £60,000. UK parents are being urged by Lowell to check their eligibility for the HMRC Child Benefit payment as the income threshold is hiked.

The change means many more parents are now eligible to receive these payments—£25.60 per week for your eldest child and £16.95 for one additional child. 54 per cent of parents surveyed said they use credit products to cover the cost of their child’s school items and activities.

69 per cent of parents surveyed using credit products said they are worried about making repayments and 31 per cent of parents surveyed are not confident on where to seek advice on school costs such as school meals and uniform.

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With the income threshold for Child Benefit payments in the UK increased to £60,000, many more parents are now eligible to receive these payments—£25.60 per week for your eldest child (£1,333) and £16.95 (£881) for one additional child. It's worth checking your eligibility, as these payments can help cover essential school costs.

If you have savings or investments totalling £16,000 or less, you may also qualify for Universal Credit. This benefit can unlock additional support, including free school meals and childcare assistance, which can help cover expenses for after-school clubs, holiday programs, and extracurricular activities.

Commenting on the research, John Pears, CEO of Lowell, stated, "For many families across the UK, associated back to school costs such as uniforms can be difficult to afford, meaning many parents across the UK can find themselves worrying about their finances.

"Though credit can be a tool for helping to spread these costs, many credit products have high interest rates, and if unforeseen expenses occur, keeping up with credit repayments can become increasingly difficult.

"With this in mind, we wanted to provide parents with some insights and resources to help manage school expenses in the coming weeks. If you’re feeling financial pressure, we encourage you to seek support. A list of organisations that can help is available at https://www.lowell.co.uk/help-and-support/independent-support/."