Child tax credits and property sale income.

MartinJB

Hi was needing advice. My girlfriend is currently getting child tax credits and is about to sell a property that will provide her some income towards a new home purchase in due course (approx 40k). She receives a sever disability element of child tax credit for her son and also working tax credits based on working income. What are the implications of recieving this money, which will in due course be used for a purchase as soon as a suitable home is found and purchased? 
Thanks for any advice.
Martin

Spoonie_Turtle

MartinJB said:

Hi was needing advice. My girlfriend is currently getting child tax credits and is about to sell a property that will provide her some income towards a new home purchase in due course (approx 40k). She receives a sever disability element of child tax credit for her son and also working tax credits based on working income. What are the implications of recieving this money, which will in due course be used for a purchase as soon as a suitable home is found and purchased? 
Thanks for any advice.
Martin

Tax Credits are only affected by interest above £300 earned on savings. The savings themselves are not taken into account.

poppy12345

Unless she's claiming council tax reduction and/or housing benefit and then savings of that amount will stop both of these.