If the claimant declares it as income surely in the first case it is income?
Clearly if we were to treat it as Capital AND it took them over the £16000 limit then there may be a more ‘interesting’ argument, but as far as I am aware this is not the case.
Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery. The blossom is blighted, the leaf is withered, the god of day goes down upon the dreary scene, and—and in short you are for ever floored.
Wilkins Micawber, Ch12 David Copperfield
