Tax Credits Deadline: Just One Week Left to Update HMRC
Tax credits customers have only until 31 July 2020 to report any changes in their income or circumstances to HM Revenue and Customs (HMRC). Miss the deadline and you could face incorrect payments – and costly repayments later.
Why You Must Act Now
If your circumstances have changed in the past year or you’ve received a letter asking to reconfirm your income, HMRC needs to hear from you. Ignoring this could mean you get paid too much in tax credits, which you’ll have to pay back.
HMRC Urges Customers: Don’t Leave it Last Minute
“Tax credits provide much needed financial support to our customers. But we know that many customers leave it to the last minute to renew their tax credits award,” said Angela MacDonald, HMRC’s Director General for Customer Services.
“The time to renew your tax credits is now, you don’t need to wait until deadline day on 31 July.”
Have You Already Updated HMRC?
- If you’ve received an annual review pack or text and confirmed your details, you’re all set.
- Disagree with the info you got, need to report changes, or are self-employed and still working on your 2019/20 tax return? Contact HMRC immediately.
- Self-employed customers with estimated income have until 31 January 2021 to update with actual figures.
Don’t risk delays or overpayments – get in touch with HMRC today and keep your tax credits on track.
