Quizzes & Puzzles1 min ago
working tax credits
3 Answers
If I am claiming working tax credits, what happens if I am given a gift of money from a parent (�4000) do I need to claim this when I receive it, or the following year, or is it allowed at all. Thanks
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As it happens, anthony's advice is right - you are not breaking the law so far as tax credits are concerned. This is because they are not interested in the amount of savings you have. But if you get more than �300 per year in interest on your savings you have to declare that.
For any other benefit, anthony's advice is wrong - you would be breaking the law by not declaring receipt of a large sum as it could affect your entitlement to the benefit.
For any other benefit, anthony's advice is wrong - you would be breaking the law by not declaring receipt of a large sum as it could affect your entitlement to the benefit.
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