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Working Tax Credits & Savings
CHris_2-2
Posts: 1 Newbie
Apologies if I have missed any previous threads on this but I cant seem to find any?
Quick question.
Are you entitled to claim Working Tax Credits if you have savings and if so is there a limit on the amount of savings that you can have?
Many thanks.
Quick question.
Are you entitled to claim Working Tax Credits if you have savings and if so is there a limit on the amount of savings that you can have?
Many thanks.
0
Comments
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Yes, no capital rules in tax credits. No limit on savings. Only thing is that any taxable income from savings (interest/dividends) counts towards your assessed income (first £300 is ignored) - but unless you have vast savings it won't make a lot of difference.
And tax free savings income doesn't count at all - you could have £200,000 in ISAs and would make no difference whatsoever to your WTC.0
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