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Higher education

Talk to other parents whose children are preparing for university on our Higher Education forum.

listing non-UK-taxable income in Uni finance applications?

6 replies

StayingZen · 23/03/2010 11:08

Some of my earnings are made abroad and not subject to UK tax. I have always simply left them off my UK tax return, but now eldest DD will be applying for Uni grants/loans/scholarships/bursaries/anything else we can think of, and I will have to include them. Has anyone else had to do this? Do I just count up and write down the total, or what? Any pitfalls? All advice gratefully received!

OP posts:
DeirdreB · 23/03/2010 12:42

?

DeirdreB · 23/03/2010 12:43

Meant to preview first - no response required!!

Milliways · 23/03/2010 20:23

If you are earning more than the maximum for getting increased loans, would it not be easier to say you don't want to be assessed and then she gets the basic Tuition Fees Loan (not assessed) and 75% of the Maintenance loan.

If you list any earnings they will demand proof (like P60). If you are applying for more than the minimum I suggest you phone the helpline (Say No to 0870 website gives a geograhic number).

lazymumofteenagesons · 24/03/2010 15:26

You don't have to show anything if you go for the non-means tested loans. Check the income levels to qualify for the other grants. I suspect if you have income offshore and in UK that you probably won't qualify for means tested grants - unless its very small. Most people not domiciled in uk for tax purposes are reasonably high earners.

lazymumofteenagesons · 24/03/2010 15:28

I wouldn't give away too many details on here if I were you, but the only legal way of leaving off shore income out of your UK tax return is by being a non dom. After 7 years of doing this you have to pay HMRC £30,000 for the pleasure.

mumeeee · 03/04/2010 00:10

When DD2 applied for her student loan last year. Dh looked at going for the means tested loan but discovered that sh would not have got any more than just going for the non means tested one. So thats what we wnet for and it was much more simple. She has now applied for her loan for the second year and once agein we've gone for the non means tested one.

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