Yup.
Apparently it's better to keep taking it and then give it back via tax for reasons to do with pensions and/or NI. I really don't understand it though.
1st January 2013.
'Paying it back' depends on how much you and/or your partner earns. You won't 'pay it back' directly, but will do so via self-assessment with HMRC who will tax you appropriately to take some/all of it back.
BBC News - QA: Child benefit changes