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tax credits and sale of house
lec444
Posts: 2 Newbie
Hi all. I'm failing to get through to the helpline so wondered if any wise mse folks could help.
We sold our Spanish property in September. It was our main residence for nine years till 2012 so is exempt from capital.gains (please don't say I got that wrong!). Does it get classed as income with regards to tax credits?
Gracias.
We sold our Spanish property in September. It was our main residence for nine years till 2012 so is exempt from capital.gains (please don't say I got that wrong!). Does it get classed as income with regards to tax credits?
Gracias.
0
Comments
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Assuming the money from the sale is in your bank account, then it is classed as capital, and will not affect entitlement to WTC or CTC but any taxable interest you receive will be deducted from the amount they pay you. Any money in non-taxable investments e.g ISAs etc will be discounted.0
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Fab thank you both for replying. That's what's thought but really don't want to get into any confusion with them.0
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