People are reminded to renew their tax credits on time
Hundreds of people could miss out on tax credits if they fail to renew their claim by the deadline next month.
The deadline for renewing tax credits is 31 July 2015 and claimants are advised to get their information in before this date to avoid complications.
The advice comes after the Institute of Chartered Accountants for England and Wales’ Tax Faculty received reports that a number of claimants had struggled to get through to HM Revenue & Customs (HMRC) Tax Credit Helpline.
Renewing a tax credit claim gives HMRC the information required to finalise tax credit awards for the previous year and renews the claim – if claimants remain eligible – for the next year. People who claimed tax credits in 2014/15 should already have received a renewal pack earlier this year, which is designed to help with the application.
Tax credits are an important part of many people’s lives and failing to renew your claim could represent a significant loss of income. While tax credits were traditionally handled over the phone, people now have the option to renew their claim online, but they need to do so soon to ensure that they continue receiving payments in 2015/16.
Before renewing online, claimants need to register with Verify, an identity-checking process, which requires claimants to answer a number of questions and submit identification information.
If you would like assistance with any claims for tax credits or would like assistance resolving issues with HMRC, please contact Sam McMorland or your usual contact at the office.
Author: Sam McMorland FCCA
Sam joined Scott & Wilkinson in 2002, qualifying as an Accountant in 2007. Sam was a pupil at Giggleswick School and moved to the Lancaster area in 1999 in order to attend Lancaster University, where she obtained a degree in Mathematics...
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