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House equity and tax credits question
swingaloo
Posts: 3,689 Forumite
We have a friend who gets working tax credits and child tax credits.
he has just sold a house and has a sum from the equity, would this be classed as 'income' for the year?.
I have looked on the site and at changes you need to report but they don't cover this other than to say 'if your income changes'.
He dosnt claim any benefits other than the tax credits so really we just need to know if he needs to notify tax credits or are they just based on your previous years income.
Thank you for reading
he has just sold a house and has a sum from the equity, would this be classed as 'income' for the year?.
I have looked on the site and at changes you need to report but they don't cover this other than to say 'if your income changes'.
He dosnt claim any benefits other than the tax credits so really we just need to know if he needs to notify tax credits or are they just based on your previous years income.
Thank you for reading
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