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On tax credits? Don’t miss the other deadline on the 31st January

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On tax credits? Don’t miss the other deadline on the 31st January

Anyone who by 31 July 2016 submitted an estimate of their income for the year ended 5 April 2016 has until 31st of this month to confirm it, or substitute the actual amount. If you do not, the estimate you submitted will be treated as your final income figure for the 2015-16 tax year.

If the estimate was too high, you could lose out on the extra tax credits you could have received had they filed the actual figure by 31 January. However, if the estimate was too low, you risk being overpaid.