Dhss

getzls

How much as a couple are we allowed to have in savings before you have to declare. i.e. i am going to to go on job seekers.

dmxdave

getzls wrote: »

How much as a couple are we allowed to have in savings before you have to declare. i.e. i am going to to go on job seekers.

Good old Google! http://www.nidirect.gov.uk/index/information-and-services/money-tax-and-benefits/benefits-and-financial-support/beginners-guide-to-benefits/changes-that-affect-your-benefit/change-of-circumstances-capital/coc-capital-income-support-jsa.htm

getzls

dmxdave wrote: »

Good old Google! http://www.nidirect.gov.uk/index/information-and-services/money-tax-and-benefits/benefits-and-financial-support/beginners-guide-to-benefits/changes-that-affect-your-benefit/change-of-circumstances-capital/coc-capital-income-support-jsa.htm

Thank you, but that says capital. Doe's that mean your house? Or is that £6000 cash only?

Old_Git

getzls wrote: »

Thank you, but that says capital. Doe's that mean your house? Or is that £6000 cash only?

£6000 cash /savings /bonds /under the matress

RikM

Weekly income is assumed...
Yes, sure, that's why the rate at which they remove benefit is less than 1% at 6k and more like 13% at 16k...
While I don't disagree with the principle, the justification is false. Why not just say, "people with savings should be using some of that". It's what they appear to mean.

Pretani

put yer 6K in the credit union, open another branch and put 6k in, etc.etc.

steveymp

Income support is dependent on savings you and partner have.

Jobseekers Allowance (Contribution based) is not affected by the amount of capital you or your partner/dependants have.

Golden_Anemone

RikM wrote: »

Weekly income is assumed...
Yes, sure, that's why the rate at which they remove benefit is less than 1% at 6k and more like 13% at 16k...
While I don't disagree with the principle, the justification is false. Why not just say, "people with savings should be using some of that". It's what they appear to mean.

To my knowledge the government has never stated that "Tariff Income" represents actual or even potential interest return. It is a misperception by the public rather than a misrepresentation by the government. "Weekly income is assumed... " means just that - the government assumes that you will use £1 for each £250 of your savings over the tariff income limit every week while you rely on means tested benefits.

RikM

Golden_Anemone wrote: »

To my knowledge the government has never stated that "Tariff Income" represents actual or even potential interest return. It is a misperception by the public rather than a misrepresentation by the government. "Weekly income is assumed... " means just that - the government assumes that you will use £1 for each £250 of your savings over the tariff income limit every week while you rely on means tested benefits.

That's kind of my point.
When you throw around words like "capital" and "income", then redefine them to mean something other than the normally accepted meaning, it's a form of dishonesty. Plain speech is preferable.

getzls

Related question. I phoned about housing benifit and was told i will not get any as i'm paying a mortgage and not renting. Is this true?

dmxdave

getzls wrote: »

Related question. I phoned about housing benifit and was told i will not get any as i'm paying a mortgage and not renting. Is this true?

Yep, you may get some assistance with the interest but not with the capitol.

With regard to your initial question I was in the same position last year and because my "savings" were over the limit (as I had lodged my redundancy cheque), the helpful lady who interviewed me in the DHSS advised me to buy a new car or put a new kitchen in.....................

I hope it turns out OK for you.