Harveynic
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Could someone help with this please, sorry if asked before, this is my first post. A couple of questions about household income: 1. Is non taxable ISA savings taken into account? 2. I received a non taxable lump sum from my pension when I retired, does this need to be declared as income, i.e. is it taken into account as pension income? Thank you.
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(Original post by Harveynic)
Could someone help with this please, sorry if asked before, this is my first post. A couple of questions about household income: 1. Is non taxable ISA savings taken into account? 2. I received a non taxable lump sum from my pension when I retired, does this need to be declared as income, i.e. is it taken into account as pension income? Thank you.
SFE (Not sure about SAAS, but the legislation should be the same here) have just changed their forms for the 2020/21 round of funding to correctly state that Pension Commencement Lump Sums (PCLS), which is known as the 25% Tax Free Lump sum you can take from your pension, should NOT be included in household income.

SFE previously on this forum were incorrectly telling people to include these lump sums. See extract from SFE PFF2 form below. SAAS should hopefully be able to give you the correct advice if needed.

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