matherj
Welfare Advice Officer, Melville Housing Asscociation, Dalkeith, Midlothia
Member since 22nd Jan 2004
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RE: Child Tax Credits and how Capital is treated
Tue 21-Dec-04 10:16 AM |
Don't know about English law, but in Scotland part of the capital would be the children's by legal rights. Depending how this is invested, income may be non taxable. If there is any private pension any part for dependants may also be non taxable. Client will have to claim with actual own income for last year then provide estimate of taxable income for the current year, and then submit actual income after the end of the tax year. This happened to me and because my peronal income increased from last year to current year, in spite of info going in timeously, I was still overpaid, and took a while to sort out.
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