Advice regarding benefits & savings

squeakquel

I currently live on my own as a single parent with three children one of which is disabled (received high rate care component of DLA). My partner & I want to move in together. He works 29hrs per week and we used the entitled to website to find out how we would stand financially but it doesn't mention anything regarding savings and investments on there.

Does anyone know how savings & investments affect entitlement to housing benefit, council tax benefit & child tax credit?

I already receive carers allowance for my son along with child benefit which i'm sure isn't affected.

Most of the savings are tied up in accounts for a specific time so they are not avaliable to use at the moment but even so does this/will this affect our entitlement?

Any advice would be appreciated please.

karenx

Yes all savings are included, up to 6k wont affect it but between 6k and 16k your benefit will be adjusted, £1 off for every £250 I think it is. Over 16k you dont get means tested benefits.
Your partners income will be taken into account for housing benefit and your tax credits award also!

sunnyone

squeakquel wrote: »

I currently live on my own as a single parent with three children one of which is disabled (received high rate care component of DLA). My partner & I want to move in together. He works 29hrs per week and we used the entitled to website to find out how we would stand financially but it doesn't mention anything regarding savings and investments on there.

Does anyone know how savings & investments affect entitlement to housing benefit, council tax benefit & child tax credit?

I already receive carers allowance for my son along with child benefit which i'm sure isn't affected.

Most of the savings are tied up in accounts for a specific time so they are not avaliable to use at the moment but even so does this/will this affect our entitlement?

Any advice would be appreciated please.

You can always get at the money in a time of need but it will cost you.