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7k payout and IS

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Comments

  • HappyMJ
    HappyMJ Posts: 21,115 Forumite
    10,000 Posts Combo Breaker
    edited 14 August 2011 at 6:39PM
    Don't forget the £5 a week disregard. If your only income is the deemed interest at £4 a week then you will have no deductions.

    Don't worry about deprivation of capital to buy a house. You won't get housing benefit once you do so you'll be saving the council money anyway. They won't mind saving money.
    :footie:
    :p Regular savers earn 6% interest (HSBC, First Direct, M&S) :p Loans cost 2.9% per year (Nationwide) = FREE money. :p
  • NASA_2
    NASA_2 Posts: 5,571 Forumite
    HappyMJ wrote: »
    Don't forget the £5 a week disregard. If your only income is the deemed interest at £4 a week then you will have no deductions.

    Don't worry about deprivation of capital to buy a house. You won't get housing benefit once you do so you'll be saving the council money anyway. They won't mind saving money.
    Disregard of income doesnt apply to capital.
  • Ames
    Ames Posts: 18,459 Forumite
    I'll be saving the council money by buying a house, but not the DWP. Therefore the DWP wont give a fig about how much I'm saving someone else.
    Unless I say otherwise 'you' means the general you not you specifically.
  • krisskross
    krisskross Posts: 7,677 Forumite
    Ames wrote: »
    I'll be saving the council money by buying a house, but not the DWP. Therefore the DWP wont give a fig about how much I'm saving someone else.

    I believe it is all taxpayers money..simply out of different pots.

    You are not really saving anyone any money, just being self supporting to a degree like most of us are
  • Ames
    Ames Posts: 18,459 Forumite
    Obviously it depends how long I live, and whether a miracle cure is invented for my illnesses, but buying a house will probably save the taxpayer more in HB than it'd save in IS.

    It's just how the maths works.

    Sorry to disappoint you.
    Unless I say otherwise 'you' means the general you not you specifically.
  • krisskross
    krisskross Posts: 7,677 Forumite
    Ames wrote: »
    Obviously it depends how long I live, and whether a miracle cure is invented for my illnesses, but buying a house will probably save the taxpayer more in HB than it'd save in IS.

    It's just how the maths works.

    Sorry to disappoint you.

    No disappointment to me. Perhaps an ESA medical will also find you fit for work.....miracles do happen.
  • Ames
    Ames Posts: 18,459 Forumite
    If being found fit for work was a result of being fit for work then no-one would be happier than me.
    Unless I say otherwise 'you' means the general you not you specifically.
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