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'borrowed income'?

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  • 'borrowed income'?

    Good morning, has anyone heard the expression ' borrowed income'? I am currently disputing a CT liability order for 2007/2009. Bailiffs are involved, i have another thread in the bailiff section. In 2007-2009 my partner was an adult student at Uni, as such she was excempt CT, i however i was unemployed at the time but was told i must sign off and claim an adult dependents grant from Student Finance, This we did, and i was given £2400ish p/a grant. The council then charged me a percentage of the CT. The L.O.is £400+ for that period, now my partners student finance consisted of approx £5500 in student grants and approx. £7000 in student loans {repayable},which included my adult dependents grant. The council say all money including loans add up to your income. Surely if you earned £10,000 p/a and borrowed £10.000 from the bank it would not make you a £20.000 p/a earner, or would it? Any advice as always, much appreciated.
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  • #2
    Re: 'borrowed income'?

    Its the first i have heard of that - Generally loans are not considered income since they have to be paid back. I would seriously question the councils decision, pointing out it was a loan and therefore is paid back and not considered as income or as an asset, as the money is not yours, but the creditors.
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    • #3
      Re: 'borrowed income'?

      Asking HMRC for a clear definition might be useful. Cross checking with other councils might also be informative.

      Here's one:

      http://www.manchester.gov.uk/info/50...for_students/5

      I notice that you refer to both loans and grants. It may well be, as teaboy2 points out, that grants are income, but loans are not.

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