childrens savings classed as an asset?

headcrash27

I would be tempted not to declare it, i don't see how they'd find out? If they did you could always plead ignorance and at worst presumably have to pay it back. Round here they only ask for two months bank statements. The only thing to be aware of is if the payments are made by standing order as this will show up on your bank statement and they will ask you about it when you put in the claim.

shikoku

For council tax rebate and housing benefit they will want to see your bank statements straight away before they process your claim.

zzzLazyDaisy

echoes008 wrote: »

So from what I gather from you post, I won't get anything from word go (in terms of contribution based JSA) , if I get anything from the insurance company?

That's not what I said. You will be paid contribution based JSA.

The insurance will insist that you claim JSA, but then they will deduct that amount from your payments. The reason is that they agree to make your income up to 65%, not give you 65% on top of your JSA. You should have been given a policy booklet when you took out your insurance which explains all this.

real1314

headcrash27 wrote: »

I would be tempted not to declare it, i don't see how they'd find out? If they did you could always plead ignorance and at worst [STRIKE]presumably have to pay it back[/STRIKE] you would be prosecuted for benefit fraud, end up with a criminal record and possibly a prison sentence. Round here they only ask for two months bank statements. The only thing to be aware of is if the payments are made by standing order as this will show up on your bank statement and they will ask you about it when you put in the claim.

The courts generally seem to take a dislike to people who claim benefits whilst having significant savings. In my experience these are the cases that tend to attract prison sentences even where the amount gained is relatively low.

echoes008

zzzLazyDaisy wrote: »

That's not what I said. You will be paid contribution based JSA.

The insurance will insist that you claim JSA, but then they will deduct that amount from your payments. The reason is that they agree to make your income up to 65%, not give you 65% on top of your JSA. You should have been given a policy booklet when you took out your insurance which explains all this.

oh ok. I understand now. Mine I think clearly states the figure but you could be right.

lovetowinacar

DX2 wrote: »

And yet you haven't grassed her up. Shame on you.

I was thinking the same thing - complicit in her crime of fraud - large scale fraud covering many years and for a large amount of money when she has £350,000 in savings - umm no wonder the country has little money in the pot to help the real vulnerable in society:(

(according to you - she may of course not have any money and just pretend she does to you:cool:)

oldestrocker

lovetowinacar wrote: »

I was thinking the same thing - complicit in her crime of fraud - large scale fraud covering many years and for a large amount of money when she has £350,000 in savings - umm no wonder the country has little money in the pot to help the real vulnerable in society:(

Hey I'm not complicit in anything! There is a difference between just knowing what the family are doing and being involved and assisting them in the crime. Knowledge is one thing, conspiracy is another!!

No, I don't agree with what she is doing, but I'm not the sort of person that would inform on anybody for anything - unless it involved childen or the elderly!
And to be honest, she could have given it to her new husband to clear his debts and then they would have nothing! The state isn't paying for his debts - so the difference to the State is no loss as such.

(according to you - she may of course not have any money and just pretend she does to you:cool:)

I'm fully aware of what she is doing, we go back 40 + years and we are very open about things. Somethings she tells my wife make me blush and run for the shed!!:o:o

At the end of the day it is their business and not for me to say anything or interfere. If I am asked I tell her straight and she respects that.

echoes008

Originally Posted by headcrash27
I would be tempted not to declare it, i don't see how they'd find out? If they did you could always plead ignorance and at worst presumably have to pay it back you would be prosecuted for benefit fraud, end up with a criminal record and possibly a prison sentence. Round here they only ask for two months bank statements. The only thing to be aware of is if the payments are made by standing order as this will show up on your bank statement and they will ask you about it when you put in the claim.

real1314 wrote: »

The courts generally seem to take a dislike to people who claim benefits whilst having significant savings. In my experience these are the cases that tend to attract prison sentences even where the amount gained is relatively low.

I am not intending to do that as I have always been straight and narrow but I don't think they can find out. I don't think polticians/government have access to bank account details. They are trying to get hold of this info. with new legislation but it hasn't gone through.

echoes008

hbgirl wrote: »

just to agree with fluffymovie because there seems to be some confusing advice here. i don't know about JSA, but for housing benefit and council tax benefit childrens savings are ignored.

there would only be a problem, if you had your own savings, wanted to claim benefit, and deliberately put it into your children's name just before you claimed.

as you have been saving it for some time there should be no problem with these savings.

k. Thanks. I think I might still take that money out and pay it towards the mortgage. Just to avoid any complications later on. I really don't want to do that as that money has been put aside for child but I should do everything that I can to make sure that if I don't get another job soon, I don't lose out on any benefits because of silly mistake on my part.