Cost of raising a child hits £227,266

moneyNew research has shown the cost of raising a child has risen by nearly £5,000 over the past 12 months. According to insurer LV=, it now costs £227,266 to bring up a child from birth, until they reach the age of 21. The key findings of the LV= ‘Cost of a Child’ report include: Our advisers can help you make the right ...

New Child Benefit rules “seriously flawed”

The new rules for Child Benefit announced in the Budget are “seriously flawed” according to The Institute of Chartered Accountants in England & Wales (ICAEW). New Child Benefit rules At present Child Benefit is available to all and is not means tested. One parent can claim £20.30 per week for the eldest child and £13.40 per week for each additional child. The benefit is available for all children under the age of 16, and in some cases can be paid until they are 20. The government wants to change the system and remove Child Benefit from “higher earners”. George Osborne announced in the Budget that ...