Is there any point trying to make a claim?

redz

dmg24 wrote: »

Eighteen months ago the OP was getting £3,000 a year in interest, so I assume they have well over £16,000.

Well you know what they say about assuming

Jomo

redz wrote: »

Well you know what they say about assuming

Im 23. I have some inheritance money in my bank, and I get interest each year. About 3,000. Anyway, I'm training to be a nurse and receive an NHS Tax free bursary for living expenses etc. This is 7,500 each year, roughly.

According to R85 Form if my net income is less than 5,225 I should receive back-pay for 20% of my interest.

It says the income excludes student loans.

Is my Tax Free NHS bursary included as "income" in respect to this? Will I get tax back with this form? My income should only really be the interest...?

Am I totally wrong? Agh please help me!

Not assuming anything!!!

redz

The assumption was the level of savings(as they stand now)

Jomo

redz wrote: »

The assumption was the level of savings(as they stand now)

It's plain to see in 'post 1' that the level of savings are over £16k....to me anyway

redz

Jomo wrote: »

It's plain to see in 'post 1' that the level of savings are over £16k....to me anyway

But are they "well over"?

The purpose of these boards is to advise and help people get what they are entitled to. Whilst it is amusing to see people parading their stupidity and lack of manners by making value judgements of other posters who are asking for help it does detract from the intention of these boards.

Oldernotwiser

If the OP's savings have dropped from £60,000 to below £16,000 in 18 months, this may be looked at as deprivation of capital.

Jomo

redz wrote: »

But are they "well over"?

The purpose of these boards is to advise and help people get what they are entitled to. Whilst it is amusing to see people parading their stupidity and lack of manners by making value judgements of other posters who are asking for help it does detract from the intention of these boards.

The OP got advice, with savings over £16k you aren't entitled to anything! Thats the rule!

I'm sure everybody would love to have a fat savings account as well as getting the tax payer to pay their rent....but it just doesn't work like that!

sunnyone

Jomo wrote: »

The OP got advice, with savings over £16k you aren't entitled to anything! Thats the rule!

I'm sure everybody would love to have a fat savings account as well as getting the tax payer to pay their rent....but it just doesn't work like that!

The more you have, the more you want or so my nana said.

briona

pukka18 wrote: »

We all need a safety net regardless of our bank account status. Not every benefit is means tested ie, contributions based JSA.

It was a simple question, you would want to protect your savings if you were me as well. In fact, by being on this website, you obviously do. I saw on the government website that they review it case-by-case. It's not like I've never worked.

Never mind, shouldn't have bothered asking if that's the kind of reaction you get.

You are only entitled to contributions-based JSA if you have made enough contributions in the relevant tax years. Since you haven't, you would be looking at income-based benefits, for which, any savings/other income you might have will be taken into consideration. If you have savings of over 16K, you are not eligible for means-tested benefits. End of. No case-by-case review required.

I just don't get this "saving for a rainy day" thing, and then, when that rainy day comes, being completely unwilling to use any of those funds!

And before you ask, yes, I do practise what I preach! I am contract worker. When I'm working I save money, and when I'm not working I live off those savings... That's what they're there for!

Briona

redz

briona wrote: »

You are only entitled to contributions-based JSA if you have made enough contributions in the relevant tax years. Since you haven't, you would be looking at income-based benefits
Briona

Do you even know what those tax years are?