HMRC has issued a warning to 171,350 Tax Credit claimants that they've only one week to resume their annual declare - or they’ll threat lacking out.

Two sorts of renewal packs have been despatched out between May 2 and June 15 and actions differ relying on which pack an individual acquired. However, recipients “must” reply by July 31, 2023, with a purpose to retain eligibility for the profit.

Myrtle Lloyd, HMRC’s director basic for buyer providers, mentioned: “We know Tax Credits offer vital financial support for our customers so it is important that you renew by the deadline on July 31.

“It is quick and easy to renew online at GOV.UK or using the HMRC app, just search ‘manage my tax credits’ on GOV.UK."

Customers who received a renewal pack with a red line across the first page and the words “reply now” should reply to HMRC.

They’ll need to report any life changes as well as provide details of their current circumstances, such as changes in relationship status, childcare costs, working hours, and income.

The full list of changes that could affect customers’ Tax Credits can be found here. It should be noted, “reply now” customers must respond to the request for information even if there have been no changes to their circumstances.

Customers whose packs had a black line across the first page and the words “check now” only need to update HMRC if their details have changed.

How to renew Tax Credits

Those who need to renew their Tax Credit claim can do so through a number of different methods.

According to HMRC, the “quickest and easiest” means for purchasers to renew their tax credits is on-line at GOV.UK or by way of the HMRC app. People can also call the Tax Credit helpline on 0345 300 3900.

People could be fined up to £300 if they don’t report certain changes within one month and up to £3,000 if they give wrong information, so it’s important to make sure all responses are factually correct before submitting.

HMRC can also be warning clients to be careful for fraudsters, as they usually attempt to capitalise on deadlines to trick individuals into handing over their private particulars.

The assertion reads: “Typical scam examples include emails or texts claiming an individual’s details aren’t up to date and that they risk losing out on payments that are due to them.

“If a phone call, text or email is unexpected, do not give out private information or reply, and do not download attachments or click on links.”

People must also be certain to not share their login particulars with anybody else and if they think any fraudulent exercise, to report it.