From the paying parent, is interest from ISAs included ?

alanfp

Google/AI tells me that interest from ISAs are generally NOT included when assessing the paying parent's CM payable. But I can't find that on the gov.uk website.

Also, are premium bonds considered to give a 8% notional return?

Can anyone point me to a definitive answer on this please?

born_again

Premium bonds interest is just a guesstimate. You only get a return(could call it interest, but it really is not) when you get a winning number.

No idea whet you mean by the 1st question.

alanfp

Sorry

Child Maintenance is payable as a percentage of income, earned and unearned. Unearned income obviously includes interest from ISAs. However, the CM service say that they get information from HMRC returns, e.g. self assessment, but the paying parent would not have included interest from ISAs as it is not taxable. Hope that explains my question.

flaneurs_lobster

Don't know if the information is used for the purpose mentioned here but all interest earned, from ISAs or otherwise, is reported by the institutions to HMRC.