HMRC is reminding parents to inform them of their child’s educational status before the end of August.

 If you have a teenager picking up their exam results this month and get Child Benefit or Child Tax Credits, you’ll need to tell HMRC whether they are staying in full-time education or starting an apprenticeship.

 Likewise, the taxman will need to know if your 16-year-old is starting full-time work or have simply finished their course.

 Parents can use the Personal Tax Account (PTA) service to update their information online. HMRC says more than 12 million people have already registered for the PTA.

 Of course, many teenagers won’t be able to finalise their plans until they know how well they’ve done.

 If that’s the case, GCSE results come out on Thursday 24 August and A-levels a week earlier on the 17th so you won’t have long.

 Angela MacDonald, HMRC’s director general of customer services, said: “Results day is an exciting time for teenagers as they move on to the next step in their life, perhaps starting employment or deciding to continue with full-time education.

 “Once parents or guardians know what their child has decided to do it’s really important they let us know as soon as possible, so they continue to get the right benefits and credits.

 “This can be done quickly and simply using the Personal Tax Account, which is available 24 hours-a-day, seven days-a-week.

 “That means that parents can let us know their child’s education status, after they’ve turned 16, at a time that suits them ahead of the 31st August deadline.”