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Tax credits/ universal credit query

1 reply

ILikePaperHats · 16/04/2019 22:29

Hi I'm currently claiming working and child tax credits (not UC yet) as I'm a low earner (less than £16K) and a single parent with 2 kids. I've got my own business which is a limited company doing copyediting and publishing services. I had a really lucrative three months late last year and I've built up a really good cash flow in my business of about £10k. Does this money count against the savings threshold for tax credits? And how much exactly are you allowed in savings before you need to inform the tax credits office? Thank you

OP posts:
Babyroobs · 16/04/2019 23:26

You only need to declare intwrest over £300 a year on savings for tax credits.

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