Published On: Fri, Jul 24th, 2020

Tax credits payments could stop unless some renew by deadline, HMRC warns | Personal Finance | Finance

Tax credits recipients have just one week left to tell HMRC about any changes to their circumstances or income they may have, HMRC has warned. Those who need to contact the department must do so before the deadline on July 31, 2020.

And, this could mean they end up having to repay any overpayments.

HMRC’s Director General for Customer Services, Angela MacDonald, said: “Tax credits provide much needed financial support to our customers.

“But we know that many customers leave it to the last minute to renew their tax credits award.

“The time to renew your tax credits is now, you don’t need to wait until deadline day on July 31.”


However, people who received an annual review pack or text and who have already made their declaration including confirming their income and circumstances do not need to do anything else.

That said, if a person disagrees with any of the information in the pack or letter must contact HMRC to tell the department about any changes.

Or, if they’re self-employed and the income HMRC holds for 2019/20 is an estimate because they have not yet filed their tax return, they should contact HMRC.

The individual will then have until January 31, 2021 to tell HMRC their actual income.

How to renew tax credits

It’s possible to renew tax credits online, by logging onto GOV.UK.

It can also be done via the HMRC app.

In addition to renewing tax credits, the app can be used to check their tax credits payments schedule, and find out how much they have earned for the year.

As well as the reminder about the looming deadline, another warning relating to tax credits has been issued.

HMRC is warning people to be aware that criminals may take advantage of tax credits renewals.

It may be that this is done via texts, email or phone, in which the scammer offers the member of public fake support.

Worryingly, these scams mimic HMRC messages in an attempt to look genuine.

So, should a person text, email or call claiming to be from HMRC and saying that a customer can renew a tax credits award or access financial help, and they ask for credit card or bank details, then it is likely to be a scam, HMRC warns.

Source link

Most Popular News