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Declaring income from ISAs and NSI certificates for tax credits
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merlinthehappypig
Posts: 1,106 Forumite
I posted this in the savings forum, but have been advised to come here instead.
Interest from ISAs and National Savings Index Linked certificates is tax-free and ignored as income for tax purposes. Does anyone know if the interest on these has to be declared as income for tax credit purposes or can it be ignored?
My sister's partner recently died and I am trying to help her with her savings.
Thanks
Interest from ISAs and National Savings Index Linked certificates is tax-free and ignored as income for tax purposes. Does anyone know if the interest on these has to be declared as income for tax credit purposes or can it be ignored?
My sister's partner recently died and I am trying to help her with her savings.
Thanks
0
Comments
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The hrmc website states that you do not need to declare i[FONT=Arial,Arial]ncome from certain tax-exempt investments, such as, Individual Savings Accounts (ISAs), Personal Equity Plans (PEPs) or non-taxable National Savings products. [/FONT][FONT=Arial,Arial]http://www.hmrc.gov.uk/leaflets/wtc2.pdf under Income and Capital[/FONT][FONT=Arial,Arial][FONT=Arial,Arial]Sally[/FONT][/FONT]0
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Thanks Sally - you're a star. I couldn't see it anywhere.0
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Gosh, on the very same forum here somebody who deals with taxes in their job told me you have to declare ISA!
Now I am getting confused.0
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