economy
HMRC will stop £117.21 monthly payment
HM Revenue and Customs has issued an alert to anyone whose children have recently got exam results and might be going back to school - or further education - warning parents could forfeit payments of £117.21 monthly. This month's results determine whether hundreds of thousands of pupils opt to remain in full-time education next year.
TL;DR
- Parents must update HMRC by August 31st if their child is continuing in full-time education or training after exams to avoid losing Child Benefit.
- The annual Child Benefit payment is up to £1,406 for the first child and £930.80 for subsequent eligible children.
- Child Benefit stops automatically on or after a child's 16th birthday unless parents confirm their teenager's plans for continued education or training.
- Qualifying education includes A-levels, T-levels, GCSEs, Scottish Highers, and some vocational qualifications up to level 3, but not university degrees or higher education courses.
- Parents whose child is under 20 and remains in full-time non-advanced education or unpaid approved training can still claim Child Benefit.
- Updates can be made through the HMRC app or online via the GOV.UK website.