Hundreds of people could miss out on tax credits and so lose important income if they fail to renew their claim by next month’s deadline.
That’s the warning from independent chartered accountants WBV Ltd, which is urging people to submit their tax credit information before the July 31st deadline.
To avoid potential complications WBV is advising claimants to send in their information to HM Revenue & Customs (HMRC) as soon as they can and not wait until the deadline.
The advice comes after the Institute of Chartered Accountants for England and Wales’ Tax Faculty received reports that a number of claimants had struggled to get through to HMRC Tax Credit Helpline.
Renewing a tax credit claim gives HMRC the information required to finalise tax credit awards for the previous year and renews the claim – if claimants remain eligible – for the next year.
People who claimed tax credits in 2014/15 should already have received a renewal pack earlier this year, which is designed to help with the application.
Said WBV partner, David Rowe, “Tax credits are an important part of many people’s lives and failing to renew your claim could represent a significant loss of income.
“While tax credits were traditionally handled over the phone, people now have the option to renew their claim online, but they need to do so soon to ensure that they continue receiving payments in 2015/16.”
Before renewing online, claimants need to register with Verify, an identity-checking process, which requires claimants to answer a number of questions and submit identification information.
If you would like assistance with any claims for tax credits or would like assistance resolving issues with HMRC, please contact WBV.
For more information please contact:
Tel: 01639 635555
The Third Floor
SA1 Swansea Waterfront
Tel: 01639 635555
WBV Ltd is a member of the prestigious UK200 Group of independent practicing chartered accountants with offices throughout the UK and associates overseas.