would i be eligible for tax credits?

kittypersil

[FONT=&quot]Hello,[/FONT]

[FONT=&quot]I’d really appreciate some advice. I’m wondering if I qualify for tax credits. I know most of my circumstances fit; I have a 2 year old child, I am getting divorced, I work 3 days pw and take home less than 1000pcm, and I pay childcare.[/FONT]

[FONT=&quot]I was lucky enough to come into some money last tax year, when a family business was sold and split 10 ways. I pumped the full amount into the mortgage (aside from some capital gains I have to give the taxman and some to my husband).[/FONT]

[FONT=&quot]Of course it was brilliant to get the money, but I now find that this hasn’t helped me live day to day and I’m mightily short of money each month. I am getting into debt with my soon-to-be-ex husband more and more each month.[/FONT]

[FONT=&quot]I am looking at their online survey where it asks you to declare other income. (Unfortunately cannot post a link but it’s accessed if you fill out this survey:

taxcredits.hmrc.gov.uk/Qualify/DIQHousehold.aspx [/FONT]

[FONT=&quot]It lists the types of money that you should declare as having received. None seem to fit except maybe this one:[/FONT]
[FONT=&quot]Trusts and Settlements[/FONT]
[FONT=&quot]Trusts and Settlements income is any income you receive under any disposition, trust, covenant, agreement, and arrangement or for certain purposes, transfer of assets.

If you have received income from a trust, settlement or a deceased person's estate, the trustees will have given you a certificate telling you what income was paid to you.[/FONT]

[FONT=&quot]But I never got a certificate! Does anyone know if the money means I can’t claim tax credit please?[/FONT]

[FONT=&quot];)I would be grateful for any help.
[/FONT]

[FONT=&quot]Thank you [/FONT]

HappyMJ

It depends if the money was given to you as income or capital. You said you had some capital gains so it is most probably capital. Payments of capital do not affect tax credits.

kittypersil

thanks for your reply! that's hopeful.

kjohn13

i could be wrong, but i was told that if you receive money thats taxable, it was counted for tax credits?

kittypersil

thanks kjohn. it's definetely not all money, just certain types. it's just v confusing which ones.