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Child tax credit

(3 Posts)
Cbwick Sat 14-May-16 13:17:35

Does receiving inheritance affect child tax credit?

katemiddletonsnudeheels Sat 14-May-16 13:19:37

It depends, is my helpful answer!

Firstly if it is in the form of property you plan to live in, no. However if it is properly in addition to the home you live in, it is counted as savings.

If it is money then it comes under savings.

Babyroobs Sat 14-May-16 13:39:16

At the moment any interest over £300 a year ( I think) from savings is counted as income for tax credit purposes. Once Universal credit takes over from tax credits then I think all savings will be taken into account when Universal credit is calculated.

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