Inheritance

[Twinkle7]

Do you have to declare inheritance to tax credits? Read a lot of conflicting info. Any clarification please

Tax credits - no. It doesn't matter what savings you have. You do have to declare all income, which would include any investment income.

Universal credit - yes definately.

I thought you could have £16000 savings on tax credits then they class it as extra income

See here OP

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Specifically, Section 4 Income & Capital.

Direct extract (pg 21)

About capital
We’ll not normally take capital (that is, deposits in current and savings
accounts at banks and building societies, most lump sum payments and the value of property, shares and other investments) into account when we work out your entitlement to tax credits.
However, in some cases where the Income Tax rules treat capital as income, and tax it as such, you’ll be expected to include the taxable amount as income in your tax credits claim. This can happen if, for example, you hold shares in a UK company and the company gives you a stock dividend (new shares) instead of a cash dividend. This is part of what we call ‘notional income’.