Tax credit renewals
Families and individuals that receive tax credits should ensure that they renew their tax credit claims by 31 July 2014. Claimants who do not renew on-time may have their payments stopped. Last year 650,000 claimants failed to renew on time.
HMRC has published the following list of the top 10 excuses for not renewing tax credits claims.
1. I didn’t need the money because I’d met a rich bloke, but he dumped me
2. My mum usually does this for me
3. The form was locked in the boot of my car, and then my car caught fire
4. My baby used the paperwork as a colouring book
5. My dog ate the form
6. I got confused with the 31 January Self Assessment deadline
7. I booked the last two weeks of July for a holiday and forgot all about it
8. I’ve been in hospital but am feeling much better now
9. I was unable to get income details from my employers in time
10. I thought I’d already renewed
Claims can be renewed by post and by phone and this year for the first time, claims can be renewed online. Claimants need 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 need to be completed on the form to allow HMRC to check if the correct tax credits have been paid.
Nick Lodge, HMRC’s Director General, Benefits and Credits, recently commented:
‘So far, over 203,000 claimants have renewed online. It’s a quick and easy way to do it. Renewing tax credits on time is important. People who don’t renew by the deadline can, and do, lose their payments.’