Investment Income - (DADA)

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islandofsodor
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Investment Income - (DADA)

Post by islandofsodor »

Does anyone know exactly how savings are taken into consideration? I've seen an income declaration form that asks for details of income from savings. Dh and I have some money in two ISA's. Would we (if dd is sucesful) have to declare the value of the ISA's or just the amount of money thay have made? We used to pay £100 per month each in but froze them about 10 years ago and we've had them untouched since then. Some years they increase in value, some years they decrease. I'm wondering whether it is better to spend some of the money (like pay off dh's car loan) before the end of the tax year to decrease the capital.
Aliarts
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Re: Investment Income - (DADA)

Post by Aliarts »

You only declare income from savings that you pay tax on. Income from ISAs is tax free so you don't declare that on a DaDA application.
islandofsodor
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Re: Investment Income - (DADA)

Post by islandofsodor »

Thank- you. That's really useful info.
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