are tax credits counted as your income

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jo.sp

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Post by jo.sp » Thu Jun 17, 2010 7:54 am
are tax credits counted as your income when assessing payments?
 
 

kallis3

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Post by kallis3 » Thu Jun 17, 2010 9:15 am
Hi, and welcome to the forum.

Tax credits are counted as income as far as I am aware.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
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Andrew Graveson

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Post by Andrew Graveson » Thu Jun 17, 2010 9:30 am
Hello jo.sp,

Tax credits will form part of he assessment of your income.
Andrew Graveson
Bright Oak Ltd
UK Debt Management Company
Website: www.brightoak.co.uk
 
 

Tina Shortland

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Post by Tina Shortland » Thu Jun 17, 2010 9:47 am
Hi jo.sp,

All income coming into your household is taken into account when looking at your income and expenditure - this includes child benefit, tax credits, wages, rental income, children's board and any other benefits.

Have you had an assessment already and are questioning it or are you considering having one to address some difficulties?

Regards,
Regards, Tina Shortland, Debt Advisory Manager for Melanie Giles at Debt Advice TV.

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Michael Peoples

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Post by Michael Peoples » Thu Jun 17, 2010 10:09 am
Not only do tax credits form part of your income but any overpayment forms part of your debt. Your tax credits can then be restored to their correct level so your IP would want to see a copy of the award.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
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