tax credit question

[mymeatballishorse]

OK I cant quite believe this, I've never claimed tax credits but now I've lost my job.

A quick look at turn2us suggests that I am entitled to a large amount of tax credits

but like I say I cant quite believe it so

Don't I have to work to get anything?

Do they take savings into account?

What about equity in property?

Is it taxable?

thanks

Tax credits are awarded on the basis of household income. Child tax credits don't require that you are employed, just that you have children. Working tax credits require that you work a minimum number of hours per week either individually if you are single or collectively (a higher minimum) if you're part of a couple. If you receive interest on your savings or rental from a property, for example, that would be classed as income. The capital value of any investments, savings or property is not counted. Neither are maintenance payments if that is applicable. Tax credits are not taxable.