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Tax credits are state benefits which are
generally available to lower income
families. However, entitlement to the
credits is significantly increased where
individuals pay for childcare or suffer a
drop in normal levels of income perhaps
due to incurring trading losses or
redundancy.
Individuals who have already claimed
tax credits for 2008/09 have to finalise
their provisional award, which would have
originally been based on their 2007/08
income, and advise HMRC of any changes in
their circumstances for 2008/09. This
procedure is known as the renewals
process. The deadline for the submission
of tax credit renewals is 31 July 2009.
HMRC have been busily advertising the
renewals process in the national press and
on their website. Claimants need to be
aware that the payment of tax credits will
stop at the end of July if they have not
renewed their applications by that date.
If you need any help with the
completion of your form or any advice on
tax credits generally please do get in
touch.
Internet link:
HMRC tax credit renewals |
