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Do I have to pay tax?
benutzername
Posts: 6 Forumite
First post.
Here are some facts:
Am I entitled to tax-free interest from banks?
I think the answer is yes, because of the following:
However, I am not sure of the correct answer, so hopefully someone has expertise or experience with this!
Thanks.
Here are some facts:
- I make over £10,000 per year in disability benefits (ESA, PIP, IS)
- The maximum personal tax-free allowance is £10,000 per year.
- My benefits are not taxed.
- I have no other sources of income.
- Those with an income under the tax-free allowance are entitled to tax-free interest from banks.
Am I entitled to tax-free interest from banks?
I think the answer is yes, because of the following:
Thus, 'income' does not include PIP; this will put me below £10,000.gov-uk-website wrote:Income includes money from UK state benefits (or their foreign equivalents) unless they’re ‘tax-free’ benefits. Tax-free benefits include:
- Child Benefit
- Housing Benefit
- Attendance Allowance
- Disability Living Allowance
- Personal Independence Payment
- the foreign equivalents of UK tax-free benefits
However, I am not sure of the correct answer, so hopefully someone has expertise or experience with this!
Thanks.
0
Comments
-
PIP is tax free so not included in your total.
You should get a P60 every year from the DWP that will list your income for the tax year.
Yours
CalleyHope for everything and expect nothing!!!
Good enough is almost always good enough -Prof Barry Schwartz
If it scares you, it might be a good thing to try -Seth Godin0 -
-
benutzername wrote: »First post.
Here are some facts:- I make over £10,000 per year in disability benefits (ESA, PIP, IS)
- The maximum personal tax-free allowance is £10,000 per year.
- My benefits are not taxed.
- I have no other sources of income.
- Those with an income under the tax-free allowance are entitled to tax-free interest from banks.
I think the answer is yes, because of the following:
Thus, 'income' does not include PIP; this will put me below £10,000.
However, I am not sure of the correct answer, so hopefully someone has expertise or experience with this!
Thanks.
Based on what you have said, the answer would be 'Yes'There are 10 types of people in the world - those who understand binary and those who do not. :doh:0 -
benutzername wrote: »Thank you. I have only received one p60 form, and that was when I was able to work.
Well, hopefully they send me one sometime...
You should get a P60 every April after the tax year finishes. Either from your work or DWP if claiming benefits.
Yours
CalleyHope for everything and expect nothing!!!
Good enough is almost always good enough -Prof Barry Schwartz
If it scares you, it might be a good thing to try -Seth Godin0 -
You should get a P60 every April after the tax year finishes. Either from your work or DWP if claiming benefits.
Yours
Calley
Does this apply when all income is income based?Forums can be/are a good guide to entitlement and it is good practice to back it up with clarification from the relevant department/specialist with written confirmation to safeguard yourself.0 -
Does this apply when all income is income based?
No idea.
Only have dealt with someone who claimed contribution based ESA they would get a P60 every year.
Yours
CalleyHope for everything and expect nothing!!!
Good enough is almost always good enough -Prof Barry Schwartz
If it scares you, it might be a good thing to try -Seth Godin0 -
I didn't know that the DWP issued them but an employer has until the 31st May to issue a P60
0 -
I didn't know that the DWP issued them but an employer has until the 31st May to issue a P60
Just checked with the person I know I know and they said yes they get one.
I think its just a piece of paper. With the amount of benefits that have been received for that tax year.
As I said they are now on CB ESA and IB before that.
Yours
CalleyHope for everything and expect nothing!!!
Good enough is almost always good enough -Prof Barry Schwartz
If it scares you, it might be a good thing to try -Seth Godin0 -
Just checked with the person I know I know and they said yes they get one.
I think its just a piece of paper. With the amount of benefits that have been received for that tax year.
As I said they are now on CB ESA and IB before that.
Yours
Calley
CB ESA is treated differently, the list that blonde bubbles has posted states clearly that income based ESA is not a taxable benefit.0 -
CB ESA is treated differently, the list that blonde bubbles has posted states clearly that income based ESA is not a taxable benefit.
Which is why I assume that people who are income based benefits don't get a P60 from the DWP and why I answered and said I did not know if they get one.
And I replied to NYM to say that DWP do issue P60's to the person who I know that gets CB ESA.
So not sure what point you are trying to prove!!!!!
Yours
CalleyHope for everything and expect nothing!!!
Good enough is almost always good enough -Prof Barry Schwartz
If it scares you, it might be a good thing to try -Seth Godin0
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