Money Matters: Tax Credits renewal

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In this week's Money Matters column, Wrekin's Debt & Energy Manager Dan Bebbington urges people to renew their tax credits claim.

People who receive tax credits have been advised they have until the end of this month to renew their claim or potentially face their payments being stopped.

According to HM Revenue and Customs (HMRC), more than 300,000 individuals who were sent a renewal pack which features a red line on the first page and the words “reply now” have yet to confirm their details for the current tax year.

With the deadline of 31 July fast approaching, this is very important as it could see their payments halted.

If you receive tax credits, then the fastest way to renew your claim is online via the gov.uk website or on the HMRC app.

A total of 1.5 million people were sent renewal packs recently and these come in two different forms.

One is the “reply now” pack mentioned previously where you need to confirm your current circumstances in order to renew.

Circumstances that could impact your tax credits payments include changes to your living arrangements, childcare, working hours or income.

The second type is the “check now” packs which have a black line on the front page and include the words “check now”.

If you received this pack and your details are still accurate then you don’t need to take any action and your credits will be automatically renewed.

HMRC has also warned people to be wary of criminals seeks to exploit the approaching deadline to fool them into handing over their bank details.

Such scams often come in the form of a text or email and you are advised to ignore any unexpected contact like this.

Don’t give out any personal information or reply and also avoid clicking on any links or downloading attachments.

You are also encouraged to keep your online log in details to yourself.

For further details on renewing your tax credits, please visit www.gov.uk/renewing-your-tax-credits-claim.

12th July 2023