2.1m annual tax credits packs to be issued

More than 2.1 million tax credits customers will begin to receive their annual renewal packs this week from HM Revenue and Customs (HMRC).

The packs will be sent between 25 April and 27 May, and customers have until 31 July to check their details are correct and update HMRC if there has been a change in their circumstances.

Tax credits help working families with targeted financial support, so it is important that people do not miss out on money they are entitled to.

There are two types of renewal packs:

• If it has a red line across the first page and says “reply now”, customers will need to confirm their circumstances to renew their tax credits.
• If it has a black line across the first page and says “check now”, customers will need to check their details are correct. If correct, customers do not need to do anything and their tax credits will be automatically renewed.

About 630,000 customers will need to confirm their circumstances to renew their tax credits for the 2022-23 tax year.

Customers can renew their tax credits for free via GOV.UK or the HMRC app.

Customers can log into GOV.UK to check the progress of their renewal.

The HMRC app on their smartphone can renew tax credits, update changes to claims, check tax credits payments schedule, and find out yearly earnings.

If there is a change in a customer’s circumstances that could affect their tax credits claims, they must report the changes to HMRC. Circumstances that could affect tax credits payments include changes to:

Source Financial Accountant click here to read more.