Selling BTL would I loose my benefits?
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funnymonkey
Posts: 233 Forumite
Good morning.
I am after a little advice.
I have a buy to let which I bought a few years ago but Im making no money from so have decided to sell.
I will only get my initial deposit back so will invest elsewhere but I was wondering if I do this would I loose my wtc with savings from the sale?
Thank you
I am after a little advice.
I have a buy to let which I bought a few years ago but Im making no money from so have decided to sell.
I will only get my initial deposit back so will invest elsewhere but I was wondering if I do this would I loose my wtc with savings from the sale?
Thank you
0
Comments
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There are no capital limits for Tax Credits so having a large lump sum will not affect your tax credits. Any interest earned over £300/annum is taken into account.
https://www.moneyadviceservice.org.uk/en/articles/how-do-savings-and-lump-sum-pay-outs-affect-benefitsInformation I post is for England unless otherwise stated. Some rules may be different in other parts of UK.0
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