Tax credits and company shares

peppapig14
peppapig14 Posts: 266 Forumite
Seventh Anniversary 100 Posts Name Dropper
edited 29 July 2023 at 10:29PM in Benefits & tax credits
I recieve child tax credits, and also pay monthly into a company saye share scheme. These are now maturing and I will be selling them. 
I'm confused as to how report these to tax credits? How would I record them in the additional income section as it is only for interest on shares which I will not be getting? 
Thanks

Comments

  • jojaca
    jojaca Posts: 122 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    I never reported my SAYE scheme years ago while on tax credits and I sold straight away after maturing. I know you definitely have to report dividend payments if you keep your shares.
  • peppapig14
    peppapig14 Posts: 266 Forumite
    Seventh Anniversary 100 Posts Name Dropper
    jojaca said:
    I never reported my SAYE scheme years ago while on tax credits and I sold straight away after maturing. I know you definitely have to report dividend payments if you keep your shares.
    Thank you , I am also thinking I do kit need ro mention saye shares 
    In terms of dividends if I recieve them and they are then used to reinvest into buying more shares do I declare them?
  • peteuk
    peteuk Posts: 1,939 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    I always thought the rule of thumb was if you paid tax on a payment then you needed to declare it.  
    You can avoid capital gains when the share mature by either putting into an ISA (you've 90 days to do this) or a pension.


    Proud to have dealt with our debts
    Starting debt 2005 £65.7K.
    Current debt ZERO.
    DEBT FREE
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.1K Banking & Borrowing
  • 252.8K Reduce Debt & Boost Income
  • 453.1K Spending & Discounts
  • 243.1K Work, Benefits & Business
  • 597.4K Mortgages, Homes & Bills
  • 176.5K Life & Family
  • 256K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.