Households earning below £60,000 to receive £1,331 in bank accounts

A change to Child Benefit thresholds will see millions of households receive a boost to their incomes. But parents have been warned they have just a few weeks to confirm their Child Benefit renewal details.

As a result of the change, more households can now access Child Benefit or keep more of the cash. Households earning up to £60,000 will now be able to keep the full benefit as the threshold has been moved from £50,000.

For households earning up to £80,000, they will be able to keep part of their child benefit from £60,000. It starts to be taken away for those earning between £60,000 and £80,000.

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Following the government changes, Child Benefit is worth up to £1,331 for the first child and £881 for each additional child. It was said by money experts that the threshold changes would pocket someone earning £70,000 and £1,106 more without previously receiving anything.

However, the more someone earns up to the £80,000 limit, the less support they get. Those earning between £50,000 and £60,000 will now keep the full amount.

Letters informing families of the changes have been sent out since April and will continue until July. They also ask parents to confirm their details as to whether they still qualify for payments.

They will be asked if their child is still in full-time education or training. Parents must confirm these details by 31 August.

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