Round 1.5 million tax credit renewal packs for the 2023-24 tax 12 months will probably be issued to folks from early subsequent month, HM Income & Customs (HMRC) has mentioned.
The annual renewal packs will probably be despatched out between Could 2 and June 15.
Tax credit assist households with focused monetary help.
Greater than 500,000 tax credit prospects might want to reply to HMRC by a deadline to verify their circumstances for the 2023-24 tax 12 months, or they might threat having their funds stopped.
As soon as folks obtain their pack, they may have till July 31 to test the data is right and notify HMRC of any modifications to their circumstances which can have an effect on their declare.
Tax credit present households with important monetary help, so it is vital that prospects look out for his or her renewal pack and renew by July 31
Myrtle Lloyd, HM Income & Customs
There are two varieties of renewal packs, HMRC mentioned. One has a purple line throughout the primary web page and says “Reply now”.
These receiving this might want to verify their circumstances to resume their tax credit.
The opposite has a black line throughout the primary web page and says “Examine now”.
Individuals receiving this pack might want to test that their particulars are right. If they’re, they don’t must do something and their tax credit will probably be mechanically renewed.
Individuals can renew their tax credit freed from cost by way of gov.uk or the HMRC app.
HMRC director-general for buyer providers Myrtle Lloyd mentioned: “Tax credit present households with important monetary help, so it is vital that prospects look out for his or her renewal pack and renew by July 31. For particulars on tips on how to renew, search ‘handle my tax credit’ on gov.uk.”
The renewal packs will probably be despatched out in batches, and HMRC mentioned individuals who haven’t obtained theirs ought to wait till after June 15 earlier than making contact.
By the tip of 2024, tax credit will probably be changed by Common Credit score.
Tax credit recipients will obtain a letter from the Division for Work and Pensions (DWP) telling them when to assert Common Credit score.
The Authorities can also be providing varied types of help to assist folks via the cost-of-living disaster, together with a £301 cost-of-living help cost which will probably be paid to eligible folks mechanically.
It’s the first of three funds, totalling as much as £900, for these eligible and on means-tested advantages, corresponding to Common Credit score or Pension Credit score, in 2023-24.
HMRC additionally issued a reminder that criminals use deadlines, such because the one for tax credit renewals, to trick individuals who may be anticipating to listen to from HMRC into sharing their banking or different private particulars.
If a cellphone name, textual content or electronic mail is sudden, don’t give out non-public data or reply, and don’t obtain attachments or click on on hyperlinks, HMRC mentioned.
It’s also warning folks to not share their login particulars with anybody else.
