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How can I keep my compensation while receiving Housing benefit
Oracle11
Posts: 1 Newbie
I am due to receive a compensation, but I am working part time and I am a single mum so I get Working and Child Tax Credits. My rent is £441 a week (Temporary accommodation) so I getting Housing Benefit to cover most of it. Will I be able to keep the compensation or they will stop the benefits at once? (The amount of compensation is around £6000 ). Please help!
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Comments
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If this compensation will be your only savings I think you will be OK with your Housing Benefits as means-tested Benefits such as these are not affected if you have capital under £6000. Between £6000 and £16000 you would lose some, but if it is only a small amount over the £6000 you would only lose a few pounds.
I think you would also be OK with Tax Credits but am not sure about this, so hopefully someone will be along soon who can give a definite answer.(AKA HRH_MUngo)
Member #10 of £2 savers club
Imagine someone holding forth on biology whose only knowledge of the subject is the Book of British Birds, and you have a rough idea of what it feels like to read Richard Dawkins on theology: Terry Eagleton0 -
seven-day-weekend wrote: »If this compensation will be your only savings I think you will be OK with your Housing Benefits as means-tested Benefits such as these are not affected if you have capital under £6000. Between £6000 and £16000 you would lose some, but if it is only a small amount over the £6000 you would only lose a few pounds.
I think you would also be OK with Tax Credits but am not sure about this, so hopefully someone will be along soon who can give a definite answer.
Tax credits are only affected if the annual interest from savings is over £300.0
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