We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

how will inheriting a lump sum affect tax credits?

Options
2»

Comments

  • jacquibaby
    jacquibaby Posts: 79 Forumite
    Ok. Thanks.
  • nad1611
    nad1611 Posts: 710 Forumite
    As oldernotwiser says Inheritance isn't an income in that sense, if you invest some of the inheritance and generate an income then that and any interest over £300 you have you declare. This si definite as I explored this myself endlessly.

    You could also purchase some pension and all pension contributions are deductible for tax credits.
    There are lots of threads on here about this.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.8K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.5K Spending & Discounts
  • 243.8K Work, Benefits & Business
  • 598.7K Mortgages, Homes & Bills
  • 176.8K Life & Family
  • 257.1K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture