Kids savings affect means tested?

princessdon

Tallullah

How does that affect savings in childrens names that parents have access to (ie they are in the child's name but the parents are named on the account) and parents can access funds?

Just thinking or everyone can put savings in their childrens names - claim they have no savings and then access savings when they wished.

I was always on the assumption that the savings had to be entirely none accessible by the benefit claimant.

mynameistallulah

Here you go ...

http://www.dwp.gov.uk/docs/memjsa64.pdf

mynameistallulah

princessdon wrote: »

Tallullah

How does that affect savings in childrens names that parents have access to (ie they are in the child's name but the parents are named on the account) and parents can access funds?

Just thinking or everyone can put savings in their childrens names - claim they have no savings and then access savings when they wished.

I was always on the assumption that the savings had to be entirely none accessible by the benefit claimant.

It's a pretty complicated area, but the DWP will look at whether the parents have a "beneficial interest" in the money. It is explained in detail in this document (29070 onwards):

http://www.dwp.gov.uk/docs/dmgch29.pdf

In theory, parents could put their savings in the accounts of their children. The DWP will take a dim view if this happens shortly before a benefit claim, and in such a situation the parents *may* still be classed as having the money, whether they have access to it or not.

mikey_bach

I agree thats for people who claim CTC for their children

but if you claim I.S for children then the rules can be found in here

http://www.dwp.gov.uk/docs/is-20.pdf

The OP is making a new claim so its neither here or there anyway

real1314

OP was asking about "means tested" benefits; that would include both HB and CTB, which still include applicable amounts for children; and both (afaik) still disallow the applicable amount for a child with over £3k in capital.

:cool: