News: 3rd July 2014

HMRC issues tax credits renewal warning

HMRC issues tax credits renewal warning

Up to 1.5 million UK residents who receive tax credits have less than one month to renew their claims or risk having their payments ceased, warned HM Revenue and Customs (HMRC).
 
The tax authority is offering people the opportunity to renew their tax credits online for the first time ahead of the 31st July deadline.
 
They can do so by visiting gov.uk/renewtaxcredits or by using the new free HMRC mobile app, available in the iTunes and Google Play stores. Claimants can still renew by the traditional methods of post and telephone (0345 300 3900).
 
At present, 135,000 people have submitted their tax credits renewal online, with HMRC revealing that consumers’ satisfaction rate regarding online renewals was “a consistent 96%”.
 
Tax credits are benefits that give additional funds to those responsible for children, disabled workers and some other workers on lower incomes. Some people receive child tax credits; some receive working tax credits while some receive both.
 
HMRC has distributed tax credit renewal packs to 5.8 million people since April, with claimants asked to act immediately once they receive their pack.
 
Within the pack, claimants are required to check the accuracy of the information HMRC holds about them, providing any new information should their personal circumstances have changed such as working hours, childcare costs or annual pay.
 
Some of these 5.8 million people will not have to do anything as their claims will automatically renew if their circumstances have remained the same for some time. However, 1.5 million people are yet to confirm their circumstances.
 
Last year, more than 650,000 people failed to renew their tax credits on time, but HMRC’s new and improved online renewals system means people no longer have any excuse.
 
Nick Lodge, director general of benefits and credits at HMRC, said: “Loads of people have already renewed their tax credits claim online, and have found it quick and easy to do.
 
“We’ve now made it even better and are encouraging everyone to renew online if they can, at a time that suits them.

“The most important thing is to renew before the 31st July deadline, so as not to risk losing your money.”



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