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Student finance TAX declaration

1 reply

cornwallcally · 20/05/2021 15:58

Hi there, does anyone have any knowledge on how to complete a student finance application as a parent support a child. my daughter is in her second year and the application has come through for next years finance. Last year I was told that you only put down you 'taxable income' of which I had none but when I did this it came back as incorrect so to get the finance I had to put income which, as any foster parent would know is not an income but an allowance. As a result she never got the full allowance and we had to finance her quite heavily. I have spoken to lots of departments but no one give the same answer so im hoping that some one on this forum has had some experience with this issue and can advice me. Thank you

OP posts:
f0stercarer · 21/05/2021 09:00

just do a tax return. You can then attach a copy of the HMRC summary. If HMRC agree you have no income then they will have to accept it, Not sure what you mean when you say you dont have an income only an allowance. My understanding is that If you are in receipt of money HMRC will treat it as turnover and it is then up to you to show deductible expenses or to take off the generous allowances that HMRC permit. You will then arrive at a taxable income figure (which could well be zero).

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