Will mum's inheritance mess up my student finance?

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Anonymous #1
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Report Thread starter 2 years ago
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One parent household with mum as the sole earner. In the financial year they want mum worked part time jobs and earned just over £8,000 the whole year. This would put me in the lower income bracket in terms of how much money I could get from student finance.
About 2 weeks after the financial year began mum was given her share of the inheritance my grandfather left, which was in the neighbourhood of £30,000. It went to fixing the house (leaky roof, cracked wall, broken front door) and a general emergency fund, which was just as well since everything broke and needed fixing in 2ish weeks (car broke down, laptop needed fixing, wiring issue ect). The money came and went in a month, but that month was within the tax year.
Will the £30k blip impact how much student finance I'll get?
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Anonymous #2
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Report 2 years ago
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(Original post by Anonymous)
One parent household with mum as the sole earner. In the financial year they want mum worked part time jobs and earned just over £8,000 the whole year. This would put me in the lower income bracket in terms of how much money I could get from student finance.
About 2 weeks after the financial year began mum was given her share of the inheritance my grandfather left, which was in the neighbourhood of £30,000. It went to fixing the house (leaky roof, cracked wall, broken front door) and a general emergency fund, which was just as well since everything broke and needed fixing in 2ish weeks (car broke down, laptop needed fixing, wiring issue ect). The money came and went in a month, but that month was within the tax year.
Will the £30k blip impact how much student finance I'll get?
Probably will do, my parents received some inheritance and that cut my student finance down to the lowest amount, they also spent it on house improvements but they don’t care what it was spent on, if it was taxable income, its classed towards student finance, sorry😏
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RogerOxon
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Report 2 years ago
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(Original post by Anonymous)
Probably will do, my parents received some inheritance and that cut my student finance down to the lowest amount, they also spent it on house improvements but they don’t care what it was spent on, if it was taxable income, its classed towards student finance, sorry😏
An inheritance is not taxable AFAIK. The estate is taxed before being distributed. I don't know if it affects student finance though - my kids aren't eligible.
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