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Time to renew tax credits

9 May 2024

HMRC is currently sending the annual tax credit renewal packs to the 730,000 tax credit claimants and is encouraging recipients to renew their tax credits claim online.

The HMRC has begun the process of sending out annual tax credit renewal packs to 730,000 claimants. They encourage recipients to renew their claims online. The distribution started on 2 May, and all recipients should have their packs by 19 June 2024.

If your pack has a black stripe on the front, it means automatic renewal. However, you need to report any changes in your circumstances to HMRC. These changes might include new working hours, childcare costs, or pay changes.

On the other hand, if your pack has a red stripe and says ‘reply now’, you need to renew it. Make sure to renew your tax credit claims by 31 July 2024 if you’re a recipient. Failing to do so might result in stopped payments. Around 10,000 taxpayers will receive these red-striped packs. You can renew your tax credits on GOV.UK or via the HMRC app.

By 5 April 2025, Universal Credit will replace tax credits and other benefits. As a result, tax credit recipients will receive a Migration Notice from the DWP or the Department for Communities (for Northern Ireland residents). This notice will inform you about the transition to Universal Credit. Don’t ignore this letter; it’s important.

Source: HM Revenue & Customs Mon, 06 May 2024 00:00:00 +0100

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