Parents have until 31 August 2025 to extend their child benefit claim and HM Revenue and Customs (HMRC) are urging parents to act fast and submit their extension claim before the deadline.
If your child is between the ages of 16 and 19 and staying in education, it’s important you extend your claim, so you don’t miss out. Parents with children in this age bracket across the UK have acted quickly with more than 509,000 successfully extending their claim.
Don’t miss the window, you should not file your claim in time, your payments will automatically stop. You can do this via HMRC’s online portal or speak to finance experts who can help.
Why is extending your claim so important?
If your eligible to extend your child benefit claim you earn an additional £26,05 a week, totalling £1,354.60 a year. This applies to your eldest or oldest child, but the extra funds could go a long way.
If you have additional children, you receive £17.25 per week, per child, totalling £897 a year. Its extra income that could be valuable given the difficult economic climate which is putting a squeeze on families.
With inflation reaching a staggering 3.8 per cent, any extra income is priceless and gives you much needed financial support.
HMRC encouraging parents to act quickly
With the deadline fast approaching, HMRC is keen to ensure parents do not miss out on their entitlements. So far, HMRC have written to 1.5 million eligible parents to remind them about extending their claim and not missing out.
As part of their drive towards a digital approach, they are recommending parents file their extension via the HMRC app or digital service.
HMRC are encouraging parents to feel comfortable taking a digital approach to complete things like child benefit claims and tax returns.
Are there tax charges to be aware of?
There is the potential for parents over a certain income threshold to face what is called a High Income Child Benefit Charge.
If you are claiming to extend your child benefits and have an individual income of between £60,000 and £80,000 you be liable for a tax charge and it may affect how much child benefit you receive.
If you are unsure about your claim, there is a child benefit tax calculator available, or you can speak with financial experts who can help you understand the potential charges in place.
How do I extend my claim?
You can complete your claim via the HMRC digital services and app but if you have any queries or concerns around your eligibility, you should speak with financial experts.
They can help you clarify your position and ensure you understand the eligibility criteria that is in place. You need to be aware your income and the potential choices your children make will affect your eligibility to extend or start a new claim.
The deadline is fast approaching, not filing an extension claim will see your payments stop after the 31 August.
Need help with your child benefit extension claim, get in touch today.
