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Sunday, July 12, 2020

Tax credits: HMRC warns of renewal this month or payments will stop | Personal Finance | Finance

Now the month of July has arrived and today HMRC reminds recipients of tax credits an important term to note. Some people will need to notify HMRC of any changes in their circumstances or revenue by July 31, otherwise their payments may stop.

Otherwise, their payments will stop.

Angela MacDonald, general manager of HMRC for customer service, said: “During these uncertain times, as the UK comes together to fight COVID-19, tax credit payments are a vital source of support for millions of people and their families.

“If you have been contacted by HMRC to provide details of your income, I urge you to contact the department by July 31st.

“Don’t leave it too late, get in touch and make sure the information we have is correct.”

DO NOT LOSE

If the information contained in HMRC is incorrect or incomplete, the recipients may have to repay any tax credits eventually paid in excess.

In addition, you may also need to pay a penalty.

How to renew tax credits

You can renew your tax credits online.

Amidst the reminder for the renewal of tax credits, members of the public are warned that criminals could attempt to take advantage of the renewal deadline.

Fraudsters may imitate HMRC messages in an attempt to look authentic and send them via SMS, email or phone, offering false support regarding renewal of tax credits.

Urging the British to be on the alert, the government has claimed that if someone sends messages, emails or calls that they claim to be from the HMRC and claims that they can renew their tax credit premiums or access financial help and ask for credit card or bank details are likely a scam.

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