Renewing tax credit claims
Families and individuals that receive tax credits must renew their tax credit claims by 31 July 2014. HMRC has begun sending tax credits renewal packs to about 5.8 million households. The packs are being sent out between April and June. Taxpayers are being urged to renew as soon as possible in order to avoid a last minute rush. Claimants who do not renew on time may have their payments stopped.
Claims should be renewed by completing the renewals pack. Claimants need to notify HMRC where there have been 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.
Any further changes which take place during the year should be notified to HMRC immediately, such as significant changes in salary or the birth of a new child. Any changes in income of more than £5,000 must be notified to HMRC without delay.
HMRC’s Director of Benefits and Credits, Nick Lodge, said:
‘People should check their details and renew early to make sure they get the right money. Don’t leave it; people who don’t renew on time risk losing their payments.’