Money Wellness

benefits

Published 01 May 2024

2 min read

Check if you need to renew your tax credits – don’t miss out!

If you’re one of the 730,000 people in the UK who get tax credits, you can expect to receive your renewal letter in the coming weeks.

Illustration of a pair of hands reaching up to catch a pound sign
routledge

Written by: Rebecca Routledge

Senior Content Manager

Published: 1 May 2024

HM Revenue & Customs (HMRC) has confirmed they’ll start dropping on people’s doormats from tomorrow (2 May).

What do I need to do?

If your letter has a black stripe, you don’t need to do anything - your claim will be automatically renewed.

But if your letter has a red stripe, you need to renew your claim.

How do I renew my claim?

You can renew your tax credits on the government website or using the HMRC app.

Fewer than 10,000 people will need to renew but, if you’re one of them, it’s important you act by 31 July. If you don’t, your payments may stop and you may have to repay any overpayments.

What’s happening to tax credits?

From 5 April 2025, tax credits are being replaced by universal credit. You should get a letter from the Department for Work and Pensions (Department for Communities in Northern Ireland) before then explaining what you need to do.

Your tax credit renewal letter may show predicted payments for the 2025-26 tax year. Ignore these! They're automatically generated. No one will be getting tax credits by then.

Don’t fall for a scam

Scammers know when people are likely to be expecting to hear from HMRC and may use this information to try and trick you into sharing personal or banking details.

Don’t give out private information if you receive an unexpected call, text or email. Contact HMRC directly if you want to double-check a request is genuine.

routledge

Written by: Rebecca Routledge

Senior Content Manager

A qualified journalist for over 15 years with a background in financial services. Rebecca is Money Wellness’s consumer champion, helping you improve your financial wellbeing by providing information on everything from income maximisation to budgeting and saving tips.

Published: 1 May 2024

The information in this post was correct at the time of publishing. Please check when it was written, as information can go out of date over time.

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routledge

Written by: Rebecca Routledge

Senior Content Manager

Published: 1 May 2024

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