If your child is aged between 16-19 and they are planning to stay on in full time education or training from September, don’t forget to extend their Child Benefit.
 
HMRC is reminding families to extend their claim by 31 August or their Child Benefit payments will automatically end.  Letters from HMRC will be sent out over the next three months to parents of 16-19 year olds, urging them not to miss out. 
 
With exam season underway and the next stage of their lives fast approaching, parents are being encouraged to renew their child’s claim quickly and easily via the HMRC app or by logging on to GOV.UK. 
 
Child Benefit is currently worth £26.05 per week or £1,354.60 for your first or only child and £17.25 per week or £897 a year for each additional child. 
 
To be eligible for Child Benefit from 16-19 years old, your child must be staying in approved education or training.  More information on eligibility is available on GOV.UK.
 
Other things to note:
 
High-Income Child Benefit Charge – from this summer, parents will be able to pay this charge through PAYE instead of filing a self-assessment tax return, in a bid to reduce paperwork. 
 
Opted out of Child Benefit – if you have previously opted out of Child Benefit and your circumstances have changed, you can opt back in through the HMRC app or via GOV.UK.
 
Child Trust Funds – as highlighted in a previous article, children born between 1 September 2002 and 2 January 2011 automatically received a Child Trust Fund set up by the government on their birth.  Teens turning 16 can now take control of their savings account and will be able to withdraw the money once they reach 18.  If they don’t know the provider, the online tool on GOV.UK can help.
 
If you have any questions on the topics discussed, please get in touch with us.