24 July, 2018 in Industry News

Tax credits must be renewed by 31 July 2018

If you claim tax credits you should have received a renewal pack which sets out the steps of how to renew your tax credits.

If your renewal pack has a red line across the first page and it says 'reply now' then you must reply by the specified deadline.

Tax credits must be renewed by 31 July 2018.  If the deadline is missed tax credits will stop. A statement will be issued and you will have to pay back any tax credits received since 6 April 2018.

If your renewal pack has a black line across the first page and it says 'check now' then you must check your details to make sure they are correct.  If your details are correct then you do not need to do anything further - your tax credits will be automatically renewed.

However, if anything in your pack is incorrect you must notify the tax credit office - the tax credits could stop or you could be fined if your details are not updated.

NOTE: if you first claimed tax credits after 6 April 2018, you will not get a renewal pack until April 2019.

If you have any questions, please contact your CavanaghKelly Client Manager in the first instance.

HMRC have created a video to highlight how to renew and the importance of doing so. Further information about Tax credits and how to renew is available here

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Whilst every effort has been made by CavanaghKelly to ensure the accuracy of the information here, it cannot be guaranteed and neither CavanaghKelly nor any related entity shall have liability to any person who relies on the information herein. Information given here is for guidance only. Detailed professional advice should be taken before acting on any information contained herein. If having read the guidance here, you would like to discuss further; a member of our team would be pleased to help you.