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Self Employed Capital & Savings - WTC

staffsuk
staffsuk Posts: 221 Forumite
Part of the Furniture 100 Posts Name Dropper Combo Breaker
edited 6 April 2014 at 11:19PM in Benefits & tax credits
Hi all!

Well I am growing my business slowly - and each year I have increased my turnover & profit :)

I have a question about what is classed as 'savings & capital' for my WTC renewal and tax return.

Are monies held in my business current account and business paypal account classed as 'savings & capital'?

I have £2k in a personal ISA - and probably over £6k in my business accounts. I understand I have to declare any 'savings & capital' over £6k - the interest from which is added into the calculations?

What if any of this should I declare for my renewal and tax return?

Thanks!
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