HMRC warning as 1.5 million parents risk losing payments worth £1,406

TRENDING Stories Videos Your Say Following a 1.7 per cent increase introduced on April 6, Child Benefit now pays £27.05 a week for the eldest or only child in a household.Parents receive £17.90 a week for each additional child.As payments are issued every four weeks, families with one child receive £108.20 during each payment cycle, which amounts to £1,406.60 over the course of a year.Families with two children receive an additional £69 every four weeks, increasing annual support by £930.80.There is no limit on the number of children parents can claim for, although overall payments remain subject to the Benefit Cap.HMRC said parents do not need to wait for their letter to arrive if they already know their teenager will continue in education or training from September.Myrtle Lloyd, HMRC’s chief customer officer, said: “Child Benefit is a real financial boost for families, so if your teenager already knows they’re staying in education or training after their GCSEs or National 5s, you don’t need to wait for our letter.“You can extend your Child Benefit claim today in minutes via the HMRC app or online at GOV.UK.”Parents can update claims through the HMRC app or on the Government website.LATEST DEVELOPMENTSIconic British restaurant chain confirms 23 site closures after entering administrationMajor British sports brand confirms 24 store closures in latest blow to embattled high streetShell oil profits hit £5bn as critics claim 'energy firms cashing in on Iran war'The letters also include a QR code linking directly to HMRC’s online service to simplify the process for households.Parents only need to update their claim if their teenager is starting a new course or qualifying training programme in September.Families whose children are already continuing on a course that HMRC has previously been informed about do not need to take further action.HMRC said 874,000 parents extended their Child Benefit claims last year.More than half completed the process online or through the HMRC app.The tax authority warned that payments will stop automatically from August 31 if claims are not extended before the deadline.Higher earning households may also face additional tax considerations linked to Child Benefit payments.If either parent earns between £60,000 and £80,000 individually, the higher earner may have to pay the High Income Child Benefit Charge.That charge can be paid either through PAYE or Self Assessment.Child Benefit remains one of the most widely claimed forms of financial support for families across Britain, particularly during periods of rising household costs and inflationary pressure. Our Standards: The GB News Editorial Charter