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Deputy Manager, Woodseats Advice Centre, Sheffield Member since27th Jan 2004
Do winnings from premium bonds count as income from savings for the purpose of working out Tax Credit entitlement?
Welfare Rights Advisor, Reading Community Welfare Rights Unit Member since25th Nov 2004
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.
Welfare Rights Adviser, Luton RIGHTS, Luton, Bedfordshire. Member since09th May 2006
I would count it as capital as it is a one off lump sum.