Income Other Than Earnings (Introduction)
This section of the Manual gives guidance on what income other than earnings from an employment or self employment should be taken into account in the calculation of entitlement to tax credits.
To calculate the other income of a claimant / joint claimant for a tax year you must add together
- Pension income
- Investment income
- Property income
- Foreign income including foreign income which has not been remitted in the UK although, foreign income which cannot be remitted and is relieved from income tax by virtue of Chapter 4 of Part 8 of ITTOIA may be disregarded for tax credit purposes
- Notional income
If the total amount of pensions, investment income, property income, foreign income, and notional income exceeds £300, only the excess is included.
For information on employment income and self employment income see the following
Note: For guidance about when income needs to be taken into account in the calculation of a tax credit award and the period(s) over which it needs to be measured for any particular award see Calculation Of An Award
