An accountant has warned small businesses owners across Waltham Forest to act fast to ensure they do not miss out on tax credits.

Nadeem Iqbal, who runs Tax Assist Accountants in Walthamstow, has urged business owners to renew tax credit claims online before the July 31 deadline.

Mr Iqbal also advised employers to sit down with their staff to ensure they do not miss out on cash they are entitled to.

He said: “HMRC is urging people to renew their claims online, informing them of any changes to their circumstances, including working hours, childcare costs or income.

“For employed tax credit claimants, employers are encouraged to sit down with staff to double-check their figures.

“Failure to meet the deadline could result in the wrong payments being made and worst case, tax credits payments being stopped altogether and people having to repay money they have received since April.”

HMRC has been sending tax credits renewals packs to almost 6 million households across the UK in the past few months.