Tax credit deadline expired
The deadline for renewing tax credits claims was 31 July 2014. In a recent press release, HMRC confirmed that more than three million people renewed their tax credits on time. This number included some 390,000 who renewed online for the first time. As would be expected the 31 July was the busiestday for online renewals.
Claimants needed to notify HMRC of any changes to the family size, child care costs, number of hours worked and salary. Details of previous year’s income also needed to be completed on the form to allow HMRC to check if the correct tax credits have been paid.
Claimants must also inform HMRC of any changes in circumstances not already reported during the year such as new working hours, different childcare costs or changes in pay.
David Gauke, Financial Secretary to the Treasury, said:
‘I am delighted so many people have renewed on time, ensuring they get the financial help they are rightly entitled to. I’m pleased that so many took the option of renewing online via GOV.UK or through the phone app, showing HMRC is truly becoming digital by default and making services simpler and cheaper for taxpayers.’
Anyone who has not yet renewed their tax credits should do so as soon as possible as otherwise their payments may be stopped.