Family Finance: Signing up for child benefit and tax credits
 The arrival of a new member of the family can often mean a period of financial reckoning as you rethink your family's finances. Read on to find out about a number of benefits that you are, or may be, entitled to.
Money, money, money
You can't sign up for child benefit until you have registered your baby, so it's important to get that done straight away.
To get Child Benefit, you’ll need to fill in a form and send it with a copy of the birth certificate. There should be a claim form in the 'Bounty Pack' you are given at the hospital. If you don't get one, you can complete a form online at the HM Revenue & Customs website.
In The Bank
Your Child Benefit can then get paid into your bank, building society, Post Office or National Savings Account every four weeks, unless you're a single parent or are receiving Income Support or Income-based Jobseeker’s Allowance, in which case it will be paid weekly.
If you're registered blind or need your carer to collect the money, you'll be sent a cheque to be cashed at the Post Office.
Tax Credits
Nine out of 10 families with children are entitled to tax credits. There are different kinds of credit available: families who work at least 16 hours a week, with under £8000 worth of savings, can get Working Families Tax Credit, this is an extra amount of money paid with your wages. If you have children in registered childcare you may be entitled to Childcare Tax Credit, and Children’s Tax Credit can reduce the amount of income tax parents have to pay by up to £520 a year.
For more information on eligibility for tax credits and how to apply, click here.
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