Hacked by Loard Mahdi

Read more...

Breaking news from the BBC Paper tax returns to be replaced by digital by 2020

Read more...

Key Tax Deadlines for the Tax Year 2011-2012. 18/03/11

Read more...

Party Political donation avoided £1.5m tax bill

Read more...

ABDS - Tax Tables 2013/14 Part 2

Read more...

Contact Us
News Items
Tax Tips

Great with People
Brilliant with Numbers
Clear and Precise with Words


Call us now on 023 8083 6900 ABDS Home

News - 22 February 2013

Tax credit claimants told to report any changes in circumstances

HM Revenue and Customs (HMRC) are reminding Tax credits claimants to report changes in their circumstances - or they may receive more money than they are entitled to.

They would have to pay this back and might face a financial penalty.

Claimants need to let HMRC know of any changes in their circumstances that they haven’t already reported during the year. The changes could be about their working hours, childcare costs, living arrangements or income. They need to report the changes immediately and ensure the details they provide are correct.

Tonmoy Kumar, Manager of the Accounts Department of ABDS comments:
“From April this year, any income increase for a household of more than £5,000 for the tax year will reduce a claimant’s tax credits award for the 2013-14 tax year. This amount has fallen from the previous figure of £10,000, after a Budget announcement in 2010.”

HMRC’s Director General of Benefits and Credits, Nick Lodge, said:

“Many people forget or fail to tell us about important changes – such as having a partner move in or an increase in income – which will affect the amount of money they receive. This could mean that they don’t get all the money they are entitled to. Or they could receive money that they have to pay back.

If you are unsure and need any help and advice on Self Assessment or want the burden taken off your hands, contact the ABDS Tax Department Now.

ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900  E-mail: abds@netaccountants.net

Great with People  Brilliant with Numbers Clear and Precise with Words

« Back to News