A DWP warning has been issued over tax credits (Image: Getty Images) Thousands on benefits have been hit with a stark warning: update HM Revenue and Customs about any life changes or risk losing cash or facing fines. A whopping 730,000 letters have been dispatched, urging claimants to report shifts in circumstances, be it a new job, partner, or kids flying the nest. The clock's ticking with a July 31 deadline looming.
Miss it and you could see your tax credits slashed. With the tax credit system on its way out, replaced by Universal Credit next year, it's crucial for those still receiving the old benefit to stay vigilant. Tax whizz Andy Wood from Tax Natives cautions: "If you are a tax credit claimant, you should inform HMRC of any changes in your circumstances, such as changes in living arrangements, childcare situations, or employment status.
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