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Child tax credit/ISA
Comments
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Generally true but there are a few exceptions. For instance strike pay is not taxable but does need to be declared.AirlieBird wrote: »Tax Credits are based on taxable income as they are officially classified as "negative tax", and so you do not need to declare anything that is not subject to tax, i.e. ISAs.0 -
Strike pay, can you explain to me what that is? sorry if its a simple question.0
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ah ok thanks
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If anybody is claiming working tax credit and child tax credit, under the new proposed reforms if you are saving for anything and you go over the means testing you will not get it anymore, at the moment savings are not assessed for working tax credits.0
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This will happen when people get shifted from the Tax credits onto the Universal Credits. It's going to catch a lot of people when they discover they will lose out despite IDS promising that nobody claiming know will be worse off when UC comes in.0
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