Parents of 16 year olds, whose teen plans on staying in full time education, are warned they could lose a particular benefit if they don't let HMRC know of their child's plans.
Child benefit is designed to help parents with the cost of raising their children, offering eligible parents £1,331 per year to put towards the costs, more for those parents with more than one child. However, while child benefit went up in 2024, some parents could see their child benefit payments reduced, or stopped altogether in the coming weeks.
