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  • FIRST POST
    • Trevstanx
    • By Trevstanx 2nd Jul 17, 9:06 PM
    • 52Posts
    • 2Thanks
    Trevstanx
    Avoiding Deprivation of Capital
    • #1
    • 2nd Jul 17, 9:06 PM
    Avoiding Deprivation of Capital 2nd Jul 17 at 9:06 PM
    Hi there I have a question.

    When me and my partner made a claim for Income Support in January we had around £10,500 savings so they reduced our benefit by £18 per week (£1 per £250).

    Is it feasible to spend that £18 they removed from our benefits from our savings? £18 x 23 weeks = £414... At the moment we have about £10,000 and spent approximately £400/500... (We bought a new sofa for £300)

    If so how often do you ring Income Support to declare you have less savings? And do you have to prove what they were spent on? (Even if your taking out a extra x amount to top up what they are deducting?)

    Thanks.
    Last edited by Trevstanx; 02-07-2017 at 9:24 PM.
Page 1
    • venison
    • By venison 2nd Jul 17, 9:27 PM
    • 1,098 Posts
    • 1,159 Thanks
    venison
    • #2
    • 2nd Jul 17, 9:27 PM
    • #2
    • 2nd Jul 17, 9:27 PM
    They will usually come back to you every year, if your savings have dropped below the limits then you MAY need to provide proof, or you could contact them, but they won't adjust your IS every time you spend £250.
    So my advice is keep receipts for any major purchases over the coming months.
    #WeStandTogether
    • Xbigman
    • By Xbigman 2nd Jul 17, 11:16 PM
    • 2,904 Posts
    • 1,166 Thanks
    Xbigman
    • #3
    • 2nd Jul 17, 11:16 PM
    • #3
    • 2nd Jul 17, 11:16 PM
    Yes you can spend the £18. In fact you can spend more than £18 as long as you keep receipts and can prove the expenditure was reasonable. Replacing an old worn out sofa is reasonable as long as you replace it with something reasonably priced. Personally I'd also have taken pictures of the old worn sofa just to be safe.



    Darren
    Xbigman's guide to a happy life.

    Eat properly
    Sleep properly
    Save some money
    • Trevstanx
    • By Trevstanx 5th Jul 17, 9:05 PM
    • 52 Posts
    • 2 Thanks
    Trevstanx
    • #4
    • 5th Jul 17, 9:05 PM
    • #4
    • 5th Jul 17, 9:05 PM
    So they contact you automatically after a year regarding savings?

    You say I can spent the £18 or more and keep the receipts what if it's spent on running of the house due to getting £18 less a week due to the savings?
    • Trevstanx
    • By Trevstanx 7th Jul 17, 9:50 PM
    • 52 Posts
    • 2 Thanks
    Trevstanx
    • #5
    • 7th Jul 17, 9:50 PM
    • #5
    • 7th Jul 17, 9:50 PM
    Any one else know anything on this subject?
    • benidorm59
    • By benidorm59 7th Jul 17, 10:18 PM
    • 79 Posts
    • 27 Thanks
    benidorm59
    • #6
    • 7th Jul 17, 10:18 PM
    • #6
    • 7th Jul 17, 10:18 PM
    usually as said they will request bank statements every twelve months, but if your capital drops because say of an emergency, boiler breaks and you have to replace so knocks your savings right down, then you can phone declare the change, send your statements and have your capital reduced, because if you wait for the year to end and send the statements they can and will just backdate if for a month So any big essential buys that cause a drop I'm capital, keep your receipts and report the change
    Last edited by benidorm59; 07-07-2017 at 10:24 PM.
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