At the end of each financial year tax credits awards need to be finalised. Her Majesty's Revenue and Customs(HMRC) are encouraging people to finalise and renew their tax credits before the deadline of 31/7/2012.
Jobcentre Plus claimants will be among the first to receive their renewal packs, starting from the week commencing 24 April 2012. People who have been in continuous receipt of the following for all of the 2011/ 2012 tax year (around 830,000 people) will have their award auto-renewed: Income Support (IS), Income-Based Jobseekers Allowance (JSA(IB)), Income-Related Employment and Support Allowance (ESA(IR)) and State Pension Credit. They will be sent form TC603R (Annual Review form) and only need to contact HMRC if their circumstances have changed.
If someone has received a form TC603D or TC603D-2 (Tax Credits Renewal Declaration), they must provide a declaration to HMRC before 31/7/2012 or their payments will stop and they will have to pay money back. If the claimant has more than one claim during the year then they will need to complete 2 declaration forms. Please note that if this deadline is not met then in some cases where ‘good cause’ applies a declaration up until 31/1/2013 may still be valid.