Advanced search

Mumsnet has not checked the qualifications of anyone posting here. Free legal advice is available from a Citizen's Advice Bureau, and the Law Society can supply a list of local solicitors.

tax credits and divorce settlement payments

(4 Posts)
almostmidnight Mon 29-Apr-13 19:54:41

Thank you for your replies. This is what is basically what it said on the other site I looked at but wanted to be sure. Don't want to think I am doing something wrong and have it come back to me at some point I find I owe them money!

CogitoErgoSometimes Mon 29-Apr-13 15:30:40

You only have to declare household taxable income. Savings are excluded but taxable interest is included. Maintenance payments - if relevant - are not classed as income.

Metalgoddess Mon 29-Apr-13 13:55:11

You have to declare any income received from savings ie interest above £300 per year I think. However when universal credit comes in then savings over 16k will mean you will not get a penny in credits regardless of income.

almostmidnight Mon 29-Apr-13 12:38:38

I am wondering if I have to declare my divorce settlement to the tax credits or is it considered savings as it was joint monies in the first place and not income earned. I have got my renewal form and it is not very clear. I read on another site I would only have to declare any interest made on the money confused

Join the discussion

Join the discussion

Registering is free, easy, and means you can join in the discussion, get discounts, win prizes and lots more.

Register now