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PhD student and tax credits, help please
Flearoy
Posts: 274 Forumite
Hi
I am thinking about leaving my full time job (c. £25k pa) and doing a PhD. I will receive about £14k pa stipend, which is not taxable. My wife works part time and earns about £10k pa. Does anyone know if PhD funding is classed as 'income'? I have tried the entitled.to website and because I would be a full-time student, it says it can't calculate what, if anything, we would be entitled to. As you might expect, if my stipend is not classed as income, the tax credits we might get are significantly more than they would be otherwise! Any help would be much appreciated.
Cheers!
I am thinking about leaving my full time job (c. £25k pa) and doing a PhD. I will receive about £14k pa stipend, which is not taxable. My wife works part time and earns about £10k pa. Does anyone know if PhD funding is classed as 'income'? I have tried the entitled.to website and because I would be a full-time student, it says it can't calculate what, if anything, we would be entitled to. As you might expect, if my stipend is not classed as income, the tax credits we might get are significantly more than they would be otherwise! Any help would be much appreciated.
Cheers!
Skip dipper and proud....
0
Comments
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http://www.hmrc.gov.uk/taxcredits/start/claiming/income-hours/other-income.htm
might help otherwise phone and ask?0 -
According to this poster you do not have to declare stipends for tax credits payments.
https://forums.moneysavingexpert.com/discussion/46555810
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