# Two questions!

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#1
Two questions.

1: My dad earns 47k a year, however, private pensions included its under 45. Do we put 45k+ or -45k.

2: My mum has no job, however last year she sold her late mothers house she co owned with her sister for a few years, and received a significant sum (100k), does this count as income? Do we have to declare this? Thanks.
0
2 years ago
#2
(Original post by "mature"student)
Two questions.

1: My dad earns 47k a year, however, private pensions included its under 45. Do we put 45k+ or -45k.

2: My mum has no job, however last year she sold her late mothers house she co owned with her sister for a few years, and received a significant sum (100k), does this count as income? Do we have to declare this? Thanks.

Hi "mature"student,

If you are under 25 years old and not married we would assess your application on your parents income, unless you have been supporting yourself financially for three years before the start of your academic year.

For the academic year 2018/19, we need financial information for the tax year 2016-2017.

We ask for the gross figure, before tax and deductions for earned income or income from self-employment.

Separately, if your dad also pays into a private pension, outside his work pension, that figure will be listed.

Your mum can be confident that income from inheritance is subject to inheritance tax, not income tax, therefore it will not be included in the assessment.

However, if an amount of inherited money is paid into a savings account, the interest payable will be included when assessing your student finance if she received interest from it in the tax year we are using.

Regards Rona
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#3
Hi thanks. So am I correct in thinking if my dads income gross is say 47, but he puts 3k a year into his private pension pot, it will count as 44k due to the deduction?
0
2 years ago
#4
(Original post by "mature"student)
Hi thanks. So am I correct in thinking if my dads income gross is say 47, but he puts 3k a year into his private pension pot, it will count as 44k due to the deduction?
Hi mature"student,

Yes that is correct, the assessors will disregard that amount when assessing the application.

Private or Personal Pensions contributions are where you pay regular payments to the pension provider who will invest it on your behalf. The fund is usually run by financial organisations such as building societies, banks, insurance companies or unit trusts.

Private pension contributions can be taken into account as an income deduction for assessment of household income.

We will require evidence of payments made, which can be in the form of a Tax Return or a statement from your pension provider.

Thanks Rona
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