Money Saving Expert Martin Lewis, offers some useful tips on claiming Tax Credit on This Morning with Philip and Holly.
Martin says: “The tax credit deadline is 31 July. If you’re one of the 5.8 million people who have been sent a review form, don’t ignore it. If you do that, your payments could STOP, or you could be forced to repay cash you’ve already spent.”
Tax credits are payouts made regularly by the state into your bank account to support those with children or those in work with a low income. They’re paid via the tax office and anyone aged over 16 who normally lives in the UK can apply to get them.
There are two types of tax credits. You can be eligible for none, one or both: Child Tax Credit – which anyone with children, whether working or not, could be eligible for, and Working Tax Credit – which anyone who works, whether they’ve got kids or not, could be eligible for.