Capital Gains and tax credits - urgent

jilt

Sorry if this is a basic question but its not something I've done before. Is a capital gain classed as income for tax credit puuposes? Been searching through HMRC manuals and still trying but if anyone can me the answer I'll love them forever.

Having a really bad day with other tenants, need a stress ball!!!!

PGM

Its not something I've dealt with it related to tax credits.

But I don't see why capital gains would ever be classed as income??

jilt

I agree PGM just wanted to be absolutely sure cos it does say any misc income which is chargeable should be included. I phoned the tax credit helpline and the reply was 'I don't think so' !!!

PGM

jilt wrote: »

I phoned the tax credit helpline and the reply was 'I don't think so' !!!

Ha! They're about as helpfull as me.

Not a very reasuring from a tax advisor, not when you know what the penalties can be for getting it wrong!

Monsoon

jilt wrote: »

S Is a capital gain classed as income for tax credit puuposes?

No it is not.

jilt

Many thanks for your replies, I haven't included it its just nice to get clarification. Note to self, bring ATT books into office!

T.C.

I had personal experience of this one - and capital gains are DEFINITELY NOTE included in a tax credits claim.