Tax Credit Payments Could Stop Unless Some Are Renewed Before Deadline, HMRC Warns | Personal Finances | Finance

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Recipients of tax credits only have one week to notify HMRC of any change in their circumstances or income, HMRC warned. Those who need to contact the department must do so by the July 31, 2020 deadline.

And that could mean that they end up having to pay back the overpayments.HMRC Director General of Client Services Angela MacDonald said, “Tax credits provide much needed financial support to our clients.

“But we do know that many clients leave their tax credit renewals at the last minute.

“Now is the time to renew your tax credits, you don’t have to wait until the July 31 deadline. ”

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However, people who have received an annual review file or text and have already made their declaration, including confirmation of their income and status, have nothing else to do.

That said, if a person does not agree with any of the information in the pack or letter should contact HMRC to notify the department of any changes.

Or, if they are 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 communicate his actual income to HMRC.

How to renew tax credits

It is possible to renew the tax credits online, by logging into GOV.UK.

This can also be done through the HMRC app.

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

In addition to the reminder of the impending deadline, another tax credit warning has been issued.

HMRC is warning people to know that criminals can take advantage of the renewal of tax credits.

It could be done by text, email or phone, in which the scammer offers the member bogus public support.

Worryingly, these scams mimic HMRC messages in order to appear genuine.

So if a person sends a text, email, or call claiming to be from HMRC and saying that a customer can renew a tax credit or access financial aid, and ask for credit card or bank details. , this is probably a scam, HMRC cautions.



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