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  • FIRST POST
    • Izzy Ziddi
    • By Izzy Ziddi 26th Nov 17, 6:35 AM
    • 3Posts
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    Izzy Ziddi
    DWP & HMRC - Capital gained from credit card money transfers.
    • #1
    • 26th Nov 17, 6:35 AM
    DWP & HMRC - Capital gained from credit card money transfers. 26th Nov 17 at 6:35 AM
    I'm hoping for advice on a matter i'm currently facing relating to "undeclared capital". I have several credit cards which I have managed very well since a teenager and built a good credit limit. Over the years whilst i've been employed i've helped my siblings by withdrawing monies from the credit cards and giving it to them as they have not been able to find the funds from their own bank and they repaid the amounts either in full or by monthly installments upon receipt of the statement. I have never had any issues with this so when I was asked for help by a friend I didn't hesitate but did not realise the consequences. I requested for money transfers for two amounts of over £6k from two different credit card companies with 0% interest free for one year into my current account and transfered the full amount into my friend's account on the same day the funds cleared in my account. I was fully aware what my friend needed the money for and have bank statements and receipts to show where the money has been spent (all work related not for personal use) together with a written agreement between us about the monthly repayments that will be made. A few days after I found myself in receipt of a letter from DWP for an interview where I was informed that they had been alerted by my bank that I had capital over £6k. I explained myself as per this thread but was advised I had to provide bank statements which I will plus all other supporting documents from my friend. I want to understand if I have unintentionally commited fraud? Do the outstanding credit card debts now class me as having capital over the threshold? I do not have any personal savings.
Page 1
    • Neil Jones
    • By Neil Jones 26th Nov 17, 8:36 AM
    • 1,012 Posts
    • 559 Thanks
    Neil Jones
    • #2
    • 26th Nov 17, 8:36 AM
    • #2
    • 26th Nov 17, 8:36 AM
    What benefits are you claiming to trigger a letter from the DWP?
    • Izzy Ziddi
    • By Izzy Ziddi 26th Nov 17, 9:58 AM
    • 3 Posts
    • 0 Thanks
    Izzy Ziddi
    • #3
    • 26th Nov 17, 9:58 AM
    • #3
    • 26th Nov 17, 9:58 AM
    It was Income Support which i'm no longer claiming due to change of circumstances which are unrelated to this matter. May I also add the interview was conducted over the phone and lasted approx 5 mins and the lady was nice and also advised me about the back log of 4-6 months they currently have and to "relax" after I had provided my statements because it will be some time before I hear back from them.
    • tomtom256
    • By tomtom256 26th Nov 17, 3:29 PM
    • 898 Posts
    • 1,647 Thanks
    tomtom256
    • #4
    • 26th Nov 17, 3:29 PM
    • #4
    • 26th Nov 17, 3:29 PM
    I'm hoping for advice on a matter i'm currently facing relating to "undeclared capital". I have several credit cards which I have managed very well since a teenager and built a good credit limit. Over the years whilst i've been employed i've helped my siblings by withdrawing monies from the credit cards and giving it to them as they have not been able to find the funds from their own bank and they repaid the amounts either in full or by monthly installments upon receipt of the statement. I have never had any issues with this so when I was asked for help by a friend I didn't hesitate but did not realise the consequences. I requested for money transfers for two amounts of over £6k from two different credit card companies with 0% interest free for one year into my current account and transfered the full amount into my friend's account on the same day the funds cleared in my account. I was fully aware what my friend needed the money for and have bank statements and receipts to show where the money has been spent (all work related not for personal use) together with a written agreement between us about the monthly repayments that will be made. A few days after I found myself in receipt of a letter from DWP for an interview where I was informed that they had been alerted by my bank that I had capital over £6k. I explained myself as per this thread but was advised I had to provide bank statements which I will plus all other supporting documents from my friend. I want to understand if I have unintentionally commited fraud? Do the outstanding credit card debts now class me as having capital over the threshold? I do not have any personal savings.
    Originally posted by Izzy Makan
    I would not look at this as fraud as you have a paper trail to show where the money came from, where it went and owing to the fact that you have a written agreement for repayment.

    Have any repayments been made as yet that you can also use to show the agreement is being met?
    • Izzy Ziddi
    • By Izzy Ziddi 26th Nov 17, 5:26 PM
    • 3 Posts
    • 0 Thanks
    Izzy Ziddi
    • #5
    • 26th Nov 17, 5:26 PM
    • #5
    • 26th Nov 17, 5:26 PM
    The first statement has arrived and will be paid accordingly by my friend depositing the money into my account and then for the set direct debits to leave my account.
    • konark
    • By konark 29th Nov 17, 2:20 AM
    • 927 Posts
    • 721 Thanks
    konark
    • #6
    • 29th Nov 17, 2:20 AM
    • #6
    • 29th Nov 17, 2:20 AM
    I'd be surprised if your bank had told the DWP off its own bat, without being asked. It is not a bank's responsibility to police the benefit system and there may be Data protection issues.If the amounts were transferred out the same day then they are reporting you for having money that's not even there.
    • Darksparkle
    • By Darksparkle 29th Nov 17, 6:46 AM
    • 4,698 Posts
    • 2,973 Thanks
    Darksparkle
    • #7
    • 29th Nov 17, 6:46 AM
    • #7
    • 29th Nov 17, 6:46 AM
    I'd be surprised if your bank had told the DWP off its own bat, without being asked. It is not a bank's responsibility to police the benefit system and there may be Data protection issues.If the amounts were transferred out the same day then they are reporting you for having money that's not even there.
    Originally posted by konark
    The bank likely have passed the information to HMRC who in turn data share with DWP.
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