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Tax credits and savings

(28 Posts)
EldonAve Mon 19-Aug-13 16:35:32

Can you claim tax credits if you have savings? I know there used to be a £16K limit - does this still apply?

morethanpotatoprints Sat 24-Aug-13 21:33:16

For tax credit purposes, I don't think so. I was told it was income only, you can have an inheritance and it not count as earnings.

Under UC you can still have property you don't live in if your business is property development and you are paid a wage. You couldn't be expected to live in several properties at once. You are expected to be running the house like a business though and be providing tax returns.

HystericalParoxysm Sat 24-Aug-13 23:24:42

So, morethan, what does that mean for anyone with a property they rent out? Is that a business?

OrangeFlower7 Sun 25-Aug-13 14:17:16

Thanks ivykaty

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