The Inland Revenue has denied a claim in a national newspaper that individuals would be fined for late returns of their annual renewal forms for the new tax credits being introduced next month. A spokesman for the Inland Revenue said, 'No decisions have been made on the final process relating to the renewals notice,' and added, 'We have no plans for introducing automatic penalties at all.' The Inland Revenue's comment followed an article in the Daily Mail which reported that parents applying for the new tax credits could face fines of 300 if they failed to return their forms on time. The Child Tax Credit and Working Tax Credit are being launched in April to replace the existing Working Families Tax Credit and Children's Tax Credits.
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