Does monthly income from parents need including for tax credits?

chicka · 19 March 2017 at 11:05PM

Hi
This is a hypothetical question at the moment.
I am going through a divorce and looking at my options financially. One option is to take over the family home on my own and get a mortgage in my name - I may struggle a bit and my parents have said they will help if I need it.
If they do contribute regularly, would I need to notify tax credits about this? I have looked on the website and it doesnt specifically include it on the list but I wondered whether anyone knows whether it would create any problems?
I am trying to cover all bases before making any decisions and if receiving money from parents was to somehow reduce my tax credits then I would need to look at an alternative.
Many thanks
Chicka

Darksparkle · 20 March 2017 at 7:48AM

It wouldn't be considered income although could raise questions if you are receiving regular payments.

It would be better if they paid for something directly or gave cash.

newbie1980 · 20 March 2017 at 7:58AM

Darksparkle wrote: »

It wouldn't be considered income although could raise questions if you are receiving regular payments.

It would be better if they paid for something directly or gave cash.

this is a good idea

maybe you pay for mortgage and get parents to pay for shopping petrol in car etc

TELLIT01 · 20 March 2017 at 9:07AM

Your parents making payment direct to the mortgage provider would be the best option. Then there could be no question that you are receiving 'income' from undeclared sources.

Does monthly income from parents need including for tax credits?

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