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i am self employed and claiming tax credits and i have some isas do i have to declare them as they ask to put down any interest on savings or is it just interest on savings in a bank/building society also i have saved into a investment bond towards my pension i dont get any income from them,thanks


  • fender2000
    fender2000 Posts: 56 Forumite
    thanks also we may be inheriting a house in a few months time,and if we sell it is it classed as income
  • fender2000
    fender2000 Posts: 56 Forumite
    also what about interest on the investment bond should that be declared as i dont touch it
  • NYM
    NYM Posts: 4,066 Forumite
    First Anniversary Photogenic Combo Breaker First Post
    edited 4 June 2015 at 11:13PM
    I'm curious; why you need to claim tax credits ?

    fender2000 wrote: »
    looking to put £60000 away to create an income as I am semi retiring some one advised the prufund cautious any advice please.........

    ........we are both 60 I get £40 per week from private pension.£150 per week part time work and £80 per week tax credits,just wanted a safe option for our money to retain the capital and to make a small income from it,as we were recommended the prufund cautious as we could take 5% tax free from the fund per year and more or less keeping the capital intact hopefully,thanks
  • konark
    konark Posts: 1,260 Forumite
    When (if?) Universal Credit ( which replaces WTC) arrives you will be ineligible as you have too much in savings.
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