Time is running out for UK parents to secure a valuable financial boost for their children's future. HM Revenue & Customs (HMRC) has issued an urgent August 31 deadline for families to claim Child Benefit and protect their National Insurance credits - potentially worth £2,000 per child.
Why This Deadline Matters
The clock is ticking for parents who haven't previously claimed Child Benefit but may be eligible for associated National Insurance credits. These credits count towards your state pension, with each missing year potentially reducing your retirement income by £300 annually.
Key facts every parent should know:
- Claiming by August 31 allows backdating to January 2013
- Each year of credits protects £300 in annual pension payments
- Parents could secure up to £2,000 per child in pension value
- Even high earners should claim to protect their NI record
Who Needs to Act Now?
This deadline particularly affects:
- Parents who didn't claim Child Benefit because their partner earned over £50,000
- Families who thought they weren't eligible due to income levels
- Those who opted out of payments but still need the NI credits
"Many parents don't realise that even if they don't need the monthly payments, registering for Child Benefit protects their state pension," explains a financial expert.
How to Claim Before the Deadline
The application process is straightforward:
- Complete the Child Benefit claim form (CH2)
- Include original documents (birth certificates, etc.)
- Submit before August 31 for maximum backdating
With just weeks remaining, financial advisors are urging parents not to delay what could be one of the most valuable financial moves they make for their future.
