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Redundancy Payment & Tax Credits
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supersaver2
Posts: 977 Forumite
Hi All,
Had a quick search but can't get an answer. Do redundancy payments count as income in regard to child tax credit claims?
Thank you.
Had a quick search but can't get an answer. Do redundancy payments count as income in regard to child tax credit claims?
Thank you.
0
Comments
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http://taxaid.org.uk/guides/information/issues-for-employees/employee/redundancy
Tax credits
For tax credits, the income to be declared is the same as taxable pay for income tax. So tax free redundancy amounts up to £30,000 can be ignored.0 -
http://taxaid.org.uk/guides/information/issues-for-employees/employee/redundancy
Tax credits
For tax credits, the income to be declared is the same as taxable pay for income tax. So tax free redundancy amounts up to £30,000 can be ignored.
Thank you, only 5k but would have pushed our income over the threshold for this tax year.0
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