The deadline for parents to extend their child benefit claim is fast approaching.
If you have children aged between 16 and 19 who are staying in education, it’s essential you extend your claim as you will be missing out on extra income and payments will stop from the deadline if you haven’t filed an extension claim.
HM Revenue and Customs (HMRC) is encouraging parents to ensure they file their claim in time with the deadline set for 31 August 2025.
You can file your claim via the HMRC app or use HMRC’s innovative online portal but if you are unsure or need support, speak to finance experts who can help.
What could I miss out on if I fail to file an extension?
HMRC is making a concerted effort to ensure all eligible parents are reminded of their entitlements and so far, those efforts have paid off with over 509,000 parents acting fast and putting their claim in ahead of time.
As families across the countries deal with uncertain economic conditions, any additional income is useful in more ways than one. As inflation rising to 3.8 per cent, every penny matters as you manage your families’ finances.
Through child benefits you earn an additional £26.05 a week which over a year totals £1,354.60. While this only applies to your eldest or only child, there are benefit amounts set at £17.25 per week or £897 a year, per additional children you have.
It’s important you file your extension claim as soon as possible to ensure you don’t miss out especially with payments stopping after the deadline.
How are HMRC informing parents?
With the 31 August a matter of days away, HMRC have written to 1.5 million eligible parents to ensure they don’t forget.
In addition to this, they are recommending use of their digital platform and app to encourage faster, smoother processes.
HMRC are encouraging parents to feel comfortable taking a digital approach to complete things like child benefit claims and tax returns.
Does a high-income child benefit charge apply to all parents?
Some parents face the prospect of a high-income child benefit charge. Although, this is a select group, parents with an individual income of between £60,000 and £80,000 could be liable for a tax bill.
The more you earn within the threshold, the bigger the charge and this could affect the amount of child benefits you receive.
HMRC have a child benefit tax calculator online where you can clarify your situation or speak with financial experts. They can help you understand your financial position and clarify if the charge applies to you.
Is support available?
With the 31 August deadline just around the corner, it is important you get your claim in as soon as possible. You don’t want to miss out and payments will stop if you have not filed a claim.
Speaking with financial experts will ensure you can confidently file your claim and have much needed peace of mind. They can advise you on the steps to take, clarify your financial position and ensure you file your claim ahead of time.
Speak with our team for expert advice and support.
