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Hello.
My step father pasted away last year. From the money he left my mother was able to retire from work. She has not needed to access her pension. To clarify, she does not receive an income from her pension. The only taxable income she has is from a property she rents out. Am I right in saying that the maintenance loan is based on taxable income? For example she has X amount of money in the bank. Does estate or ‘money’ in the bank affect the loan? Based on this would I correct in assuming I would be eligible for the full loan?
My step father pasted away last year. From the money he left my mother was able to retire from work. She has not needed to access her pension. To clarify, she does not receive an income from her pension. The only taxable income she has is from a property she rents out. Am I right in saying that the maintenance loan is based on taxable income? For example she has X amount of money in the bank. Does estate or ‘money’ in the bank affect the loan? Based on this would I correct in assuming I would be eligible for the full loan?
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(Original post by Henrylward)
Hello.
My step father pasted away last year. From the money he left my mother was able to retire from work. She has not needed to access her pension. To clarify, she does not receive an income from her pension. The only taxable income she has is from a property she rents out. Am I right in saying that the maintenance loan is based on taxable income? For example she has X amount of money in the bank. Does estate or ‘money’ in the bank affect the loan? Based on this would I correct in assuming I would be eligible for the full loan?
Hello.
My step father pasted away last year. From the money he left my mother was able to retire from work. She has not needed to access her pension. To clarify, she does not receive an income from her pension. The only taxable income she has is from a property she rents out. Am I right in saying that the maintenance loan is based on taxable income? For example she has X amount of money in the bank. Does estate or ‘money’ in the bank affect the loan? Based on this would I correct in assuming I would be eligible for the full loan?
We require the gross taxable income, she can check with HMRc if she is unsure what her income is.
What is her household income in the 2019/20 tax year and what is it expected to be in the 21/22 tax year?
Thanks, Isaac
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