Overview

non-taxable income


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Income that is specifically exempt from tax. Examples of such income include: income received under a maintenance agreement or court order in cases of divorce or separation; statutory redundancy pay; income from National Savings Easy Access Savings Accounts; income from Individual Savings Accounts (ISAs); up to £4250 annually from a ‘rent-a-room’ scheme; income from scholarships; winnings from betting (including the National Lottery) and competition prizes.

income received under a maintenance agreement or court order in cases of divorce or separation;

statutory redundancy pay;

income from National Savings Easy Access Savings Accounts;

income from Individual Savings Accounts (ISAs);

up to £4250 annually from a ‘rent-a-room’ scheme;

income from scholarships;

winnings from betting (including the National Lottery) and competition prizes.

Subjects: Financial Institutions and Services — Accounting.


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