Compensation for ill health and WTC ?

shardonnay

no longer valid

Bogof_Babe

I think you will have to use your capital for essential spending (i.e. not buy expensive luxuries) until it gets down to £16,000 (I think), at which point you will become entitled to Income Support (again, I think). I know something kicks in at the point where your capital is considered below the threshhold.

Hope someone with more knowledge will be along soon.

healy

Incapacity Benefit is not means tested so the money will not affect it. If you contact the Inland Revenue they will be able to advise about tax credits.

Oldernotwiser

In passing, I wonder if you've taken legal advice about your work situation or discussed it with your union? Sorry if you've already passed this point but there's never any harm in suggesting the obvious.

firesidemaid

it depends on what income you have to live on when you leave your job - not including the 20,000.

if there is not enough, then you would probably have to claim income support - which is means tested and would be affected by 20k.

it might make sense to do the house repairs etc. if you need to claim, you are supposed to use your savings first - down to a certain level.

with IS you also get your mortgage interest paid eventually, sooner if you are on ill-health benefits.

are you entitled to disability living allowance?

CAB would also be worth a visit.