Help...

lulumoo

Hi I am a single mum of two and I work part-time. I received a 10k inheritance last year and I rang Tax Credit Helpline and they advised me that it would not affect my claim if I had it in isa's or premium bonds.

Anyway I was just doing my form and it says any other income and this includes inheritance and I have put the amount in and it says I am due a lot less than I have had.. whoops

The money went straight into my mortgage and therefore I didn't have it available .. am I now in the poop.. :mad:

Does anyone know? Please help if you do.. as I am now panicking!!!!

bestpud

I would visit your local CAB.

As far as I'm aware, tax credits are not affected by savings - it's just any interest you earn on it that may count as income - only over £300 a year though, I think.

Can't see why, but perhaps there's some rules regarding what you do with an inheritance?

CAB will definitely be able to explain and will help you appeal the decision if need be too.

lulumoo

Ok thanks bestpud.. however having racked my brain and regurgatated the whole matter in my small space of a head .. I have worked this out. On the form it says "other income" and refers to "money from deceased person's estate" now I read that yesterday to mean inheritance but I actually now think that it means if someone is dealing with the administration of an estate and gets paid it should be declared as "other income".

Therefore my inheritance is safe.. and I am entitled to what I have been receiving.. phew.. maybe I can get some double glazing put in now before the winter!!

Thank you for your response though and for taking the time to do it..