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moving house and tax credits pls help
sweetypie1
Posts: 4 Newbie
Hi, I am selling my house and buying another one to live in. All the proceeds from the house sale are going into the new house. I currently claim tax credits but just would desperately like to know will this affect my claim. I heard of somebody selling their house and the proceeds were counted as income but they were not buying anywhere else. I won't be keeping the money as it will go towards the new property. PLs help as I am now worried.
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sweetypie1 wrote: »Hi, I am selling my house and buying another one to live in. All the proceeds from the house sale are going into the new house. I currently claim tax credits but just would desperately like to know will this affect my claim. I heard of somebody selling their house and the proceeds were counted as income but they were not buying anywhere else. I won't be keeping the money as it will go towards the new property. PLs help as I am now worried.
Its Not the capital thats taken into account for tax credits,its any interest you may earn that is counted towards income..0
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