Have you updated your post-16 Child Benefit claim? Here’s everything you need to know

The deadline for parents and carers to confirm if their 16 to 19-year-olds are staying in full-time education or approved training is 31 August, and HM Revenue & Customs has sent letters to 1.3 million families who need to update their records.

If you fail to update your Child Benefit records with the correct information, the Child Benefit will automatically stop, so it’s important to check that you have updated anything necessary.

HMRC’s Deputy Chief Executive has said that the quickest way to notify HMRC is online via your tax account, or search on gov.uk for more information or options to contact someone.

Child Benefit is currently worth £21.80 per week for a first child, and then a further £14.45 for each additional child. This can provide vital financial support for families.

However, if parents or carers have an income of more £50,000 and receive Child Benefit, they will need to pay the High-Income Child Benefit Charge.

If an individual’s income is more than £60,000, the tax charge will be equivalent to the total amount of the Child Benefit, so it is important to stay informed on this and consider your options.

624,000 taxpayers have opted out of Child Benefits due to this higher rate tax charge.

Parents or carers are eligible for Child Benefit if they are responsible for a child under 16, or under 20 if they are in full-time non-advanced education. This includes A-levels, Scottish Highers and NVQs.

You can see the full list of approved courses and training schemes online at gov.uk.

If you have an income of £50,000 or more and need advice on whether to opt out, contact us today.

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