The 31 July 2023 is the final day for families and individuals that receive tax credits to tell HMRC about any changes in their circumstances or income and to renew their tax credit application. As in previous years, there is likely to be a last-minute rush and it may be difficult to contact HMRC by phone. Renewing a claim online (either on the HMRC APP or GOV.UK) is the preferred method. It is also possible to renew by post or phone. There are still some 300,000 claims that need to be renewed.
Once the deadline has expired, anyone who has not yet renewed their tax credits should still ensure they do so as soon as possible as otherwise their payments may be stopped, and monies received since last April may have to be repaid. We would strongly advise any of our readers who have not yet renewed their tax credits application to do so as a matter of urgency.
Over 1.5 million renewal packs were sent out by HMRC between early May and mid-June. A renewal is required if the pack has a red line across the first page and it says, 'reply now'. If the pack has a black line and says, ‘check now’, recipients will need to check the details are correct. If the details are correct the tax credit awards will be renewed automatically, and no further action is required.
Taxpayers should notify HMRC where there have been changes to the living arrangements, childcare costs, number of hours worked and salary (increase or decrease). Details of previous year's income also need to be completed on the form to allow HMRC to check if the correct tax credits have been paid.
Universal Credit is expected to replace tax credits and other legacy benefits (including Income-Related Employment and Support Allowance, Income-Based Jobseeker’s Allowance) by the end of 2024.
Recent Comments