Do savings effect tax credits at all?

[charliecat]

Does anyone know?

I think it depends on the interest you get from the savings rather than than the amount you have got in the bank. i rang last year and they told me to wait for this years'interest thingy to come from the building society. if interest is above a certain amount-see the booklet you get with your form as can't quite remember what the limit is-then you have to declare it. but if i remember rightly, it's quite a large amount of interest you need to have earned on your savings anyway.

interest on savings is def income

so its the interest and not the savings...okay, not for me, i have about 55p in savings For a friend whos going to gain 12 grand...cheers

12 grand will be approx £500 interest so she can still get full credits due then {grin}