Housing Benefit and Children's Capital

velvetpresley

Hi all.

I lost my job of just over 5 years last week, currently looking for a new job (which shouldn't be that far off). I've been given five weeks notice, which they are paying, but they don't expect me to work, so we're OK until the end of October.

I live with my wife and two boys.

If I don't manage to get gainfully employed by that point, I will want to claim Housing Benefit - however, my two children have around £30k in the bank, through gifts given to them by various family members - basically to put them through Uni and College without having to claim Student Loans, for training, and maybe driving lessons and such - just to give them a good start to their adult life.

The kids are the account holders, and my wife and I are named on the account. It is a normal savings account and not a trust.

Can this amount be taken into consideration? Will they ask for proof as to where the money came from? For proof, I have none.

Thanks all, I hope you can help.

Cheers

Matt

Oldernotwiser

Don't you have to have proof of who gave them the money for tax purposes? Otherwise everybody would be able to use their children's tax free allowances for savings.