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Forum Home  →  Discussion  →  Income support, JSA and tax credits  →  Thread

Working Tax Credit and equity release

Paul_Treloar_AgeUK
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Information and advice resources - Age UK

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Hi folks,

Just double checking but as far as I can see, taking capital through equity release shouldn’t directly impact upon an award of Working Tax Credit. If they took a lump sum, they taxable income from that could have an effect but I can’t see the simple fact of having a lump sum would be a problem.

Anyone have any thoughts? Thanks in advance as ever.

Charles
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Accountant, Haffner Hoff Ltd, Manchester

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Yes, that is correct. Obviously, it could have an effect when they are moved over to UC, but not for WTC.

Paul_Treloar_AgeUK
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Thanks Charles, that’s what I thought, appreciated.