Deadline for renewing TAX CREDITS
If you claim either Working Tax Credit or Child Tax Credit, you should have received a renewal pack from HMRC which states your renewal deadline. For most people, the deadline is 31st July 2023.
If you do not renew, any provisional payments received from April 2023 will be overpayments and HMRC will look to recover them.
You can view HMRC’s guide to renewing tax credits here:- HMRC’s Guide to Renewing Tax Credits
It is not possible to make a claim for tax credits unless you have made a previous claim, hence why it is possible to renew. It is also possible when you renew to add additional elements.
The government are introducing Universal Credit as an eventual replacement for tax credits. You may receive some information about Universal Credits in your renewal pack this year, which is for information only. At some point, most people claiming tax credit will be affected by Universal Credit.
Some people may already be claiming Universal Credit, because they will be better off, and some people will need to change over to claiming Universal Credit when circumstances bring their tax credits to an end.
Qualification to tax credit
HMRC have two types of tax credit: working tax credit and child tax credit, each with different qualifying criteria. In order to received tax credit, you must make a claim to renew your tax credit.
You can view HMRC’s eligibility criteria by clicking the links below:
If you have any questions regarding tax credit, please don’t hesitate to contact us using our details below.
(E) enquiries@advaloremroup.uk (T) 01908 219100 (W) advaloremgroup.uk
