06 Sep 2017
Taxpayers in receipt of child benefit and child tax credits payments should be aware that HMRC can stop making payments on the 31 August following a child’s 16th Birthday.
HMRC has issued a press release reminding parents to inform them if any of their children are aged over 16 and continuing in full-time education or are undertaking an apprenticeship. Where this is the case, the child benefit and child tax credits payments can continue until a qualifying child reaches their 20th birthday. To claim until the age of 20, the young person must have started or enrolled in a course of further education by their 19th birthday.
If your child benefit and / or child tax credits payments have been stopped and your child is continuing with eligible education or approved training you need to let HMRC know. This update process needs to be repeated annually as your children turn 17, 18 and 19 years old and remain qualifying. This can be done using the parents' personal tax account which gives taxpayers the opportunity to manage some of their tax affairs online.
HMRC should also be informed if a young person leaves education or training. This will prevent the build-up of overpayments that will have to be repaid to HMRC. There are penalties for failing to report a change in circumstances to HMRC. In some circumstances, claimants can even be prosecuted for benefit fraud if they deliberately make a claim for benefits to which they were not entitled.
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Grenfell has a broad range of experience and knowledge, working with clients from many different industry sectors. Grenfell is also the senior audit partner in the practice.
Chris works with a diverse profile of owner managed businesses to assist them to grow and retain wealth. Although Chris works with clients from a wide range of sectors, he has particular expertise in property, catering, consultancy and professional services.
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Alex has worked for Grenfell James since 2002 and became a director in 2013. Overseeing our internal operations, he manages the flow of work and ensures we hit our strict deadlines. Alex also manages a portfolio of clients, with expertise in manufacturing and service businesses.
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David has worked for Grenfell James since 2006. He heads up our tax team and is highly experienced with expertise in different industries and sectors.
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