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Working tax credits
Rupert_Bear
Posts: 1,320 Forumite
in Cutting tax
A relation of mine has been advised his saye scheme finishes shortly.
He intends to buy the share but he will receive a tax free bonus from HMRC of £600. However he does get working tax credits.
My question is would he need to declare the bonus when the time comes.
He intends to buy the share but he will receive a tax free bonus from HMRC of £600. However he does get working tax credits.
My question is would he need to declare the bonus when the time comes.
0
Comments
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Hello there
I believe that this does not need to be taken into account when calculating working tax credits0 -
Hello there
I believe that this does not need to be taken into account when calculating working tax credits
Thanks for that. I did ring the tax helpline on Saturday and you are quite right you do not need to take that bonus into account. However if the bonus payment buys additional shares and you receive a dividend on your holding and it is over £300 then it would need to be disclosed.0
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