Tax credits and inheritance

I'm due to recieve an inheritance but I'm unsure if I need to declare it to HMRC and if I will lose my child tax credits because I've recieved inheritance. We want to use the inheritance as a deposit on a house, but for personal reasons, need to wait until August to do this. So can I sit on it in a 0% account and still get my ctc.

Hi,

In terms of inheritance the value of capital is not taken into account, however, any taxable income generated from it is treated as income.
In terms of other income, anything above £300 is taken into account for tax credit purposes. You will only need to report gains of £300 or more from the inheritance.

Thank you.