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Is there a deadline for renewing tax credits?

  • 3 min read
  • Last updated 15 Aug 2022

Is there a deadline for renewing tax credits? If yes, what it is?

Here’s the rundown.

What are UK tax credits?

Let’s refresh your memory on everything you need to know about tax credits.

In the UK, tax credits are a type of benefit that is provided by the government. They’re available to those who need a bit of extra money and general support. This includes:

  • People who need help caring for children 
  • Disabled workers
  • People on low incomes

There are two types of tax credits that you can receive:

  1. Child tax credit (CTC) – HMRC pays this if you have children. You don’t have to be working to claim this credit
  1. Working tax credit (WTC) – HMRC pays this if you work and have a low income (this also includes the self-employed)

You might have already claimed for either one or both of these credits, depending on your situation.

How can I claim tax credits?

If you don’t already, you can’t make a new claim for tax credits. 

Why?

UK tax credits are being replaced by Universal Credit by 2024. You can only claim tax credits if:

  • You’re already claiming one for one of them – these must be renewed every year
  • You’re looking to update them – report any changes to HMRC.

Otherwise, you should apply for Universal Credit.

So when is the deadline for renewing tax credits? 

Unfortunately, the deadline to renew tax credits for 2022/2023 has already passed.

HMRC told claimants that they had to renew their tax credits before the deadline of 31st July. In fact, in the build-up to the deadline, HMRC even issued an urgent reminder to the quarter of a million people who were yet to renew their claims.

So unless you renewed your tax credits before this deadline, you’ve missed the boat!

Oh no! I missed the deadline

There’s unfortunately not too much you can do in terms of making sure you still receive tax credits. HMRC were pretty adamant in stating that failing to renew tax credits before the deadline would mean that payments would be cut off.

However, you can still apply for Universal Credit.

Here’s how it works.

Universal credit explained

Universal Credit (UC) is a payment you’re entitled to that you receive from the government to support you. In most cases, you receive single monthly payments. This can be either just for you or for both you and your partner if you have a joint claim.

UC is set to replace tax credits by 2024, so even if you missed your chance to renew, you can still apply for UC.

To be eligible to claim for Universal Credit you must:

  • Live in the UK
  • Be aged 18 or over (there are some exceptions if you’re 16 to 17)
  • Be under the State Pension age
  • Have £16,000 or less in money, savings and investments

The upside to switching to UC from tax credits is that you’re more likely to receive more financial support, according to HMRC – woohoo!

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