Saving. Lessons why you should or should not.

[DrFfybes]

It's not that convoluted. The application form notes make it clear:

"Income from savings and investments, including dividends.
Enter the gross amount, but do not include tax exempt savings like ISAs."


No ISA income of whatever source need be declared.

The web pages probably just contain various drafting errors. I doubt they are put past the legal department before release, unlike the actual forms that applicants submit and the accompanying notes, which presumably are legally checked.

GS

I would take it as you do, and ignore all income from ISAs.

It would help if the notes and the actual form were the same though.

[Gerry557]

It's not that convoluted. The application form notes make it clear:

"Income from savings and investments, including dividends.
Enter the gross amount, but do not include tax exempt savings like ISAs."


No ISA income of whatever source need be declared.

The web pages probably just contain various drafting errors. I doubt they are put past the legal department before release, unlike the actual forms that applicants submit and the accompanying notes, which presumably are legally checked.

GS

I would take it as you do, and ignore all income from ISAs.

It would help if the notes and the actual form were the same though.

Having never applied, where are the form notes or is it on the application form.

[GoSeigen]

It's not that convoluted. The application form notes make it clear:

"Income from savings and investments, including dividends.
Enter the gross amount, but do not include tax exempt savings like ISAs."


No ISA income of whatever source need be declared.

The web pages probably just contain various drafting errors. I doubt they are put past the legal department before release, unlike the actual forms that applicants submit and the accompanying notes, which presumably are legally checked.

GS

I would take it as you do, and ignore all income from ISAs.

It would help if the notes and the actual form were the same though.

Having never applied, where are the form notes or is it on the application form.

TC603RD is the one I referred to, possibly there are others:

https://www.gov.uk/government/publications/tax-credits-renewal-pack-notes

GS

[Gerry557]

It's not that convoluted. The application form notes make it clear:

"Income from savings and investments, including dividends.
Enter the gross amount, but do not include tax exempt savings like ISAs."


No ISA income of whatever source need be declared.

The web pages probably just contain various drafting errors. I doubt they are put past the legal department before release, unlike the actual forms that applicants submit and the accompanying notes, which presumably are legally checked.

GS

I would take it as you do, and ignore all income from ISAs.

It would help if the notes and the actual form were the same though.

Having never applied, where are the form notes or is it on the application form.

TC603RD is the one I referred to, possibly there are others:

https://www.gov.uk/government/publications/tax-credits-renewal-pack-notes

GS

Thanks GS, to me that does look like any ISA dividend should be ignored. I wonder if they were given poor advice or it was misinterpreted. It could of been different it the past of course.

I will point out the notes next time I see them or send a quick email. I suppose with much of the UKs tax, it looks quite complicated. Hopefully it's simpler if you have to apply.

[Gerry557]

I have been reading further about the tax credits. I was wrong about capital. Apparently its ignored, so you can be a millionaire on low income and get it.