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Share losses
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Popz
Posts: 52 Forumite
Hi guys
I withdraw money from a share trading account at a sgnificant loss (down 60%) though not in the same tax year. I purchased the shares a couple of years ago and sold them in January 2018. Do i have to declare this for tax credir purposes as addtional income? I also recently sold my car. Do i declare this too? Will both these affect tax credit award?
Thankyou.
I withdraw money from a share trading account at a sgnificant loss (down 60%) though not in the same tax year. I purchased the shares a couple of years ago and sold them in January 2018. Do i have to declare this for tax credir purposes as addtional income? I also recently sold my car. Do i declare this too? Will both these affect tax credit award?
Thankyou.
0
Comments
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Tax credits are means-tested, but they have no capital limit. This means there is no amount of savings that will automatically stop you being able to claim tax credits. Income from savings can be taken into account so as to reduce the amount of your award; the first £300 a year of such income is ignored.0
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