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Why do they ask about bank interest Tax Credits?
pollya_3
Posts: 1 Newbie
Hi I am applying for Tax Credits. One of the questions is about Bank Interest. I got interest last year but have spent it since. Do I have to put this down? I know it doesn't affect what I get as it wasnt a lot. Why do they ask? Does it matter if I put it down.?
Thanks
Thanks
0
Comments
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Because it's classed as taxable income. They disregard the first £300 of it (unless this has increased since April and I'm not aware)I'll get you, my pretty, and your little dog too!0
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I've spent my wages, do I have to put them on the form? :rotfl:
Sorry, I couldn't resist!
Yes, you have to put any interest you have received on the form because they count it as income.0
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