HMRC flags up tax credit renewal deadline

Date: 16th July 2009

Potential claimants have been reminded by HM Revenue & Customs (HMRC) that they need to keep up to date with their tax planning.

The taxation authority has issued a new warning to householders, pointing out that they will miss out on benefits including Working Tax Credits and Child Tax Credits if they do not renew before the deadline.

Renewals packs were recently sent out by HMRC to people who have already claimed these tax breaks.

Claimants now need to send back details of their income - along with information about childcare, their P60 form and payslips.

They are also obliged to let the authority know if they have changed their working hours, childcare costs or salary level.

Working Tax Credits are aimed at providing tax breaks for the employed and self-employed, including sole traders and small business owners.

Meanwhile, Child Tax Credits are targeted at young parents and aim to mitigate childcare costs.

Commenting, financial secretary to the treasury, Stephen Timms, said: "Tax credits provide vital help to six million families across the UK.

"So if you haven't renewed your claim, it's essential you do so now, so your payments continue."

The tax credits renewal deadline falls on July 31st.