Don't forget the tax credits deadline
Written on 15 July 2015
If you claim tax credits you’ve got less than three weeks to return your renewal forms, the Low Income Tax Reform Group (LITRG) warns. The final deadline is 31 July.
“By now, claimants should have received a renewal pack. Most claimants will receive two forms with accompanying guidance notes and will be expected to reply to HMRC by 31 July. Other claimants will have received one form and they will have their claims automatically finalised and renewed unless they contact HMRC to say something on the form is incorrect or they have had a change of circumstances,” says Anthony Thomas, chairman of LITRG
The tax credits renewal process is important because it makes sure HMRC has paid you the right amount for the 2014/15 tax year by finalising your actual income for the year and also triggers your claim for the 2015/16 tax year.
My claim is being automatically renewed, what do I need to do?
Check the information to make sure it’s correct. If your circumstances haven’t changed and everything is correct, you don’t need to take any action. Your tax credits claim for 2015/16 will automatically be paid. If anything has changed, contact the tax credits helpline on 0345 300 3900.
I’ve received two forms, what do I need to do?
Check the information carefully, particularly the income information.
You can renew by post, phone or online. LITRG says that it expects the tax credit helpline number to be very busy as the deadline approaches, so it’s a good idea to call sooner rather than later.
If you renew online, make sure you use the official Gov.uk website. And if you renew by post, LITRG recommends taking a copy of the forms and sending them by recorded delivery or asking for proof of posting.
What if I miss the deadline?
Your payments will stop and HMRC may also ask you to repay any tax credits you’ve received since April 2015. Usually you have a further 30 days to provide the information asked for. If you don’t, you’ll have to make a new claim which can only be backdated by a month.
What if I don’t want to renew my claim for 2015/16?
You should still complete the forms. This ensures your claim for the 2014/15 tax year is finalised and any overpayment or underpayment is sorted out.
The Chancellor of the Exchequer announced some big changes to tax credits in his Summer Budget last week. You can read more about these and the other changes in our article, Summer Budget 2015: Everything you need to know.