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Tax Credits and Savings?

(3 Posts)
KS2G Tue 29-Mar-05 23:33:36

Is there a limit on how much money you can have in savings when receiving Tax Credits?

I remember that there was when it was the old Family Credit but what about now?

QueenEagle Tue 29-Mar-05 23:43:17

I've had a look on the Inland Revenue website but can't find anything to do with savings. I don't recall any questions when filling in our form with regard to savings. I have the explanatory notes in front of me too and there's nothing in there either.

Xzebra Wed 06-Apr-05 14:30:08

There isn't a limit on how much you can have in savings, but (roughly speaking) you have to declare the amount that you earn in interest as part of your income. There may be a limit on how much you can earn in interest before it counts towards your income, best just to declare the lot if you have a lot of savings.

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