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The first £300 of income from these sources is ignored when tax credits are
calculated.
If your 'other income' is less than £300 a year you should not enter anything.
If your 'other income' equals more than £300 a year, deduct £300 from the total
sum and enter the total less £300. If you have a partner you will make a joint
claim, and there is only one £300 allowance for both of you.
Include:
- income from property and shares (unless rented out under the Share-a-Room scheme)
- income from occupational and other private pensions
- income from the state Retirement Pension (including the basic state pension,
State Earnings-Related Pensions (SERPS) and Graduated pension/retirement
benefit, but excluding the Christmas Bonus and Winter Fuel payment)
- interest and dividends on savings and investments (except tax-exempt savings
plans such as ISAs, PEPs and non-taxable National Savings products)
- foreign income (including overseas pensions and social security benefits)
- any shares purchased from an employer under a Share Incentive Plan
- Dependant’s Grant paid to students with a spouse or unmarried partner or dependant adult
Exclude:
- Income from Individual Savings Account or a Personal Equity Plan (including interest, dividends or other gains on such plans)
- Income from child maintenance payments
- Student loans and grants made to cover the cost of tuition fees, childcare and the Parent’s Learning Allowance
- bursaries paid under the NHS Bursary Scheme
- children's income
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