31 July 2011 is the deadline for the renewal of Tax Credits. Therefore this month’s Q & A’s are dedicated to answering your urgent questions on this subject.
Q: What happens if I don’t renew before the deadline?
A: If you’ve been sent an Annual Declaration and don’t renew, the following will happen:
- your payments will stop
- you will have to pay back any overpayment from both the previous tax year and from the start of the new tax year
- you’ll get a statement from the Tax Credit Office about your tax credits payments
- you have a further 30 days to provide the information asked for
- if you don’t provide the information within 30 days, you will usually have to make a new tax credits claim
