Tax credit renewals

All tax credit claimants should have received their renewal pack by 4 June 2021. If you have not received your renewal pack you should contact HMRC on 0345 300 3900.


Tax credit renewals

All tax credit claimants should have received their renewal pack by 4 June 2021. If you have not received your renewal pack you should contact HMRC on 0345 300 3900.

You can renew your claim online at www.gov.uk/renewing-your-tax-credits-claim. If you need any assistance contact us and we will guide you through the process.

If your income has reduced permanently due to the Covid-19 pandemic, check that your income details in the tax credit pack are correct.

If your income has fallen temporarily as a result of Covid-19, perhaps because you were furloughed, you do not have to report this. HMRC will treat your tax credit claim as if you have been working your normal hours while on furlough.

Other changes in your personal life should be reported as they may affect your tax credit claim. For example a change in your living arrangements or a change in your childcare costs will generally need to be included.

Self-employed individuals who claim tax credits should include in their claim any grants received from the Government under the Eat Out to Help Out scheme; Self-Employed Income Support Scheme; retail, leisure or hospitality grants; and small business rates grants. You do not have to include a Test and Trace Support payment (which came in the form of a one-off lump sum of £500).

Your tax credits claim must be renewed by 31 July 2021 so you may need to include some estimated figures. If you need any guidance or figures get in touch with us as soon as possible.

At B20 Wessex we are Chartered Certified Accountants with years of experience in advising businesses on how to maximise their company tax savings.

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If you are in business as a sole trader you are personally responsible for your business activities. Talk to us for more information about sole trader responsibilities and advice on becoming a sole trader.

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As a chartered, certified accountant we are well qualified to help you prepare your management accounts on a regular basis, so that you can keep track of your business.

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