The Child Tax Credit (CTC) in the UK offers essential financial support to families with children. While many households are transitioning to Universal Credit, families still receiving Child Tax Credit may be wondering how much they can expect to receive weekly. This article provides detailed and up-to-date information about the current weekly amounts for 2024, eligibility criteria, and important changes.
Table of Contents
What is Child Tax Credit?
Child Tax Credit (CTC) is a means-tested benefit designed to help families with the costs of raising children. Unlike the Working Tax Credit, which supports those in work, the Child Tax Credit is available whether or not the parent is employed.
CTC is being gradually replaced by Universal Credit, but many families who are already receiving it will continue to do so until they are migrated to Universal Credit.
Weekly Payment Amounts for Child Tax Credit in 2024
The amount you can receive in Child Tax Credit depends on several factors, including your household income, the number of children you have, and whether any of your children have disabilities. Here’s how the weekly payment amounts break down for 2024:
- Family Element:
- Families can receive a basic £10.45 per week if their first child was born before 6 April 2017.
- Child Element:
- For each child born before 6 April 2017, families can receive up to £64.97 per week.
- For children born after 6 April 2017, families receive up to £64.97 per week for their first or second child. However, families are no longer eligible for the Child Element for a third or subsequent child, unless specific exceptions apply.
- Disability Element:
- If you have a child with a recognized disability, you can receive an additional £67.36 per week.
- If your child has a severe disability, you can receive an extra £27.75 per week on top of the disability element, bringing the total to £95.11 per week for that child.
Key Example of Weekly Payments
Here’s an example to help illustrate the weekly amounts:
- Family with Two Children:
- Basic Child Element for the first child: £64.97 per week.
- Basic Child Element for the second child: £64.97 per week.
- Total weekly payment: £129.94 per week.
- Family with One Disabled Child:
- Basic Child Element for one child: £64.97 per week.
- Additional Disability Element for that child: £67.36 per week.
- Total weekly payment: £132.33 per week.
Eligibility for Child Tax Credit
To be eligible for Child Tax Credit in 2024, you must meet several key requirements:
- Household Income: CTC is means-tested, meaning the amount you receive depends on your annual income. Lower-income families will receive the full benefit, while those with higher incomes will receive a reduced amount.
- Number of Children: You can claim Child Tax Credit for up to two children born after 6 April 2017, though there are exceptions for additional children in special circumstances (such as multiple births, adoption, or certain disabilities).
- Residency: You and your children must be UK residents.
- Existing Claims: Only families already receiving Child Tax Credit before the introduction of Universal Credit can continue to claim it. New claimants must apply for Universal Credit instead.
When Do Payments Arrive?
Child Tax Credit is typically paid either weekly or monthly, depending on your preference:
- Weekly Payments: If you choose weekly payments, you can expect funds to be deposited into your account every Monday or Tuesday, depending on your bank’s processing time.
- Monthly Payments: If you choose monthly payments, they will be deposited on the same date each month.
You can change your payment frequency by contacting HMRC if needed.
Transition to Universal Credit
As part of the UK government’s welfare reform, Child Tax Credit is being phased out and replaced by Universal Credit. Families already receiving CTC will be gradually moved to Universal Credit over the next few years. Under Universal Credit, families can still receive financial assistance for children through the child element, though the payment structure differs slightly.
New claimants must apply for Universal Credit, and it’s important to stay informed about when and how the transition will affect your family.
How to Claim Child Tax Credit
For existing claimants, managing your Child Tax Credit claim requires keeping HMRC informed of any changes to your circumstances, including:
- Changes in income.
- Changes in family size (e.g., new children, adopted children, or children leaving the household).
- Changes in work status (if also receiving Working Tax Credit).
New claimants cannot apply for Child Tax Credit and must apply for Universal Credit.
Maximizing Your Child Tax Credit Benefits
To ensure you’re receiving the maximum amount of Child Tax Credit you’re entitled to:
- Keep Your Income Details Updated: Notify HMRC of any changes in household income to avoid overpayments or underpayments.
- Check for Other Benefits: If your child has a disability, make sure you’re receiving the correct disability elements in addition to the regular Child Tax Credit.
- Review Payment Frequency: If you’re struggling with monthly expenses, consider switching to weekly payments for more immediate financial support.
In 2024, the Child Tax Credit remains a valuable source of financial support for eligible families in the UK. With weekly payments ranging from £10.45 for the family element to over £95.11 for severely disabled children, it’s crucial to understand how much you can receive and when.
If you’re already receiving a Child Tax Credit, make sure to keep your claim up to date to maximize your benefits. For new claimants, Universal Credit will be your route to financial assistance for children, with similar provisions under the child element.
£2,500 Working Tax Credit Claim in October 2024: Eligibility & Payment Dates
£3,900 DWP Payment Income Boost: How to Maximize Your State Pension in 2024
£1,739 Universal Credit Bonus October 2024: Check Your Eligibility Now!
£3,455 Child Tax Credit Coming in October 2024: Check Eligibility & Payment Dates
£600 Winter Fuel Payment October 2024: Are You Eligible? Key Dates & Payment Details
Stay informed about the transition to Universal Credit to ensure a smooth process and uninterrupted support for your family.