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I receive WTC & CTC but sold my house .. help!
Tristania
Posts: 1 Newbie
Hello friends. Apologies in advance if this has been asked before but I've trawled the forums and just can't seem to find the answers I'm seeking. Can anyone advise me on this problem please? I've tried calling the Tax Credits centre but I've been on hold then cut off twice today.
I'm a part-time working single mum, earning around £10,500 after all deductions and receive Working & Child Tax credits, they combined it's around £80 pw. However, I've sold my house (just divorced) and will only receive around £9,000 after my brief takes his slice and my ex hubby takes his share too. Now I've had conflicting advice whether the Tax Credits needs to know. Some friends are saying yes I have to declare this but others are saying no, income from house sales that low doesn't have to be declared. I don't want to break the law so can anyone advise what to do, other than spend a day trying to get through on the phone to the actual Tax Credit Centre? I appreciate any help you lovely folks can give me. Thanks, Trista
I'm a part-time working single mum, earning around £10,500 after all deductions and receive Working & Child Tax credits, they combined it's around £80 pw. However, I've sold my house (just divorced) and will only receive around £9,000 after my brief takes his slice and my ex hubby takes his share too. Now I've had conflicting advice whether the Tax Credits needs to know. Some friends are saying yes I have to declare this but others are saying no, income from house sales that low doesn't have to be declared. I don't want to break the law so can anyone advise what to do, other than spend a day trying to get through on the phone to the actual Tax Credit Centre? I appreciate any help you lovely folks can give me. Thanks, Trista
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Comments
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Hello friends. Apologies in advance if this has been asked before but I've trawled the forums and just can't seem to find the answers I'm seeking. Can anyone advise me on this problem please? I've tried calling the Tax Credits centre but I've been on hold then cut off twice today.
I'm a part-time working single mum, earning around £10,500 after all deductions and receive Working & Child Tax credits, they combined it's around £80 pw. However, I've sold my house (just divorced) and will only receive around £9,000 after my brief takes his slice and my ex hubby takes his share too. Now I've had conflicting advice whether the Tax Credits needs to know. Some friends are saying yes I have to declare this but others are saying no, income from house sales that low doesn't have to be declared. I don't want to break the law so can anyone advise what to do, other than spend a day trying to get through on the phone to the actual Tax Credit Centre? I appreciate any help you lovely folks can give me. Thanks, Trista
No you don't have to declare it.
If you invest the £9k and get interest then you'd need to declare any interest over £300, but you don't need to declare capital at all.
You would have to declare it for benefits eg housing, council tax benefit, income support0
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