Your Tax Credits renewal forms should have been sent to HMRC by 31st July. As a result, the Tax Credits Office is likely to:
- Stop your tax credits payments; and then
- Send you a statement showing you whether you have been paid too much or not enough in tax credits.
Putting off your renewal could prolong over or underpayments, so you must get your renewal information to the Tax Credits Office as quickly as possible after 5th April.
Fortunately, you have provided the information within 30 days of the deadline though. Had you failed to do that, you would have had to reapply for Tax Credits.
If you are struggling to keep on top of your Tax Credit affairs, your local TaxAssist Accountant could manage them for you. Please feel free to contact us for more information or your free initial consultation./p
By Jo Nockels
Disclaimer: The information provided is based on current guidance (at date of publication) from HMRC and may be subject to change. Any advice shared here is intended to inform rather than advise. Taxpayer's circumstances do vary and if you feel that the information provided is beneficial it is important that you contact us before implementation. If you take, or do not take action as a result of reading this information, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.