Other income above £300
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 this. If you have a partner you will make a joint claim, and there is only one £300 allowance for both of you.
- Income from property and shares (unless rented out under the Rent-a-Room scheme, see GOV.UK Rent-a-Room Scheme page)
- 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
- 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