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Top Working Tax Credit & Child Tax Credit topic #1678

Subject: "Premium Bond Winnings" First topic | Last topic
Peter Newton
                              

Deputy Manager, Woodseats Advice Centre, Sheffield
Member since
27th Jan 2004

Premium Bond Winnings
Tue 09-May-06 01:32 PM

Do winnings from premium bonds count as income from savings for the purpose of working out Tax Credit entitlement?

  

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Replies to this topic
RE: Premium Bond Winnings, Tony Bowman, 10th May 2006, #1
RE: Premium Bond Winnings, Duncan, 12th May 2006, #2

Tony Bowman
                              

Welfare Rights Advisor, Reading Community Welfare Rights Unit
Member since
25th Nov 2004

RE: Premium Bond Winnings
Wed 10-May-06 01:01 PM

Not sure. Check out the TC(definition and calculation of income) regs 2002.

Interest on deposits with national savings are mentioned, but premium bonds are not mentioned specifically.

If premium bonds are defined as a 'lottery', then the disregard in para 4 of table 4 (reg 10) would apply.

  

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Duncan
                              

Welfare Rights Adviser, Luton RIGHTS, Luton, Bedfordshire.
Member since
09th May 2006

RE: Premium Bond Winnings
Fri 12-May-06 09:19 AM

I would count it as capital as it is a one off lump sum.

  

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Top Working Tax Credit & Child Tax Credit topic #1678First topic | Last topic