PHI and tax credits

dave030445

hi all does the amounts you get from a PHI get taken into account when working out tax credits. thanks

dave030445

any ideas anyone!

pmlindyloo

Can you expand on this a little?

Are you getting income from the PHI (Permanent Health Insurance?)

If so in what form? Monthly? Lump sums?

dave030445

pmlindyloo wrote: »

Can you expand on this a little?

Are you getting income from the PHI (Permanent Health Insurance?)

If so in what form? Monthly? Lump sums?

morning yes its a permanent health insurance. its paid on a monthly basis from my employer.

pmlindyloo

I'm sorry I am unsure!

Have you looked at the notes on your renewal form to see if it comes under other income and/or does not have to be declared?

Usually if it is taxable it has to be declared but there are exceptions so I don't want to give you the wrong information.

In the event no one can answer your question (with a link!) then I would telephone tax credits and ask.

dave030445

pmlindyloo wrote: »

I'm sorry I am unsure!

Have you looked at the notes on your renewal form to see if it comes under other income and/or does not have to be declared?

Usually if it is taxable it has to be declared but there are exceptions so I don't want to give you the wrong information.

In the event no one can answer your question (with a link!) then I would telephone tax credits and ask.

My wife has phoned tax credit 3 times one of the calls they said yes it does affect the amount you get and the other 2 calls said no you doesn't count towards income. so i really don't know. ive told them about it so its down to them now.

dave030445

Hi all is there a way to find out once and for all whether a PHI is counted as income when claiming for tax credit. Each time we phone them you get to speak to a different member of staff who all have there own idea whether it is used. There must be a fix rule as to what is taken into account.

ffacoffipawb

dave030445 wrote: »

Hi all is there a way to find out once and for all whether a PHI is counted as income when claiming for tax credit. Each time we phone them you get to speak to a different member of staff who all have there own idea whether it is used. There must be a fix rule as to what is taken into account.

Is it taxable?

dave030445

ffacoffipawb wrote: »

Is it taxable?

yes it is taxable

dave030445

blondebubbles wrote: »

I'd write to them and ask.

It's not a common one to ask and I can only see this - http://www.hmrc.gov.uk/manuals/tctmanual/TCTM04612.htm - in their technical manual so don't know if that helps.

thanks that interesting.
it only talks about if its tax free not if its taxable

xylophone

i

ts paid on a monthly basis from my employer.

Then despite being described as PHI it seems to fall under the arrangements described in the first paragraph here?

http://www.hmrc.gov.uk/manuals/eimanual/eim06410.htm

If this payment is taxable then it is regarded as income and so needs to be declared as income?
https://www.gov.uk/tax-credits-working-out-income