Universal Credits

LJ1

Have been trying to find out what sort of impact Universal Credits will have when it comes in......have very funny feeling I will be worse off.....
Situation is......lone parent working 30 hours....child age 13....I receive maintance from ex for daughter........at the moment tax credits dont take into account maintance.....however have feeling universal credits will...............
Due to ill health of elderly mum I had to move out of family home (which is up for sale) ive read value of property will be taken into account as well .....ive read somewhere that there will also be a savings limit of 16000......
im starting to get a bit worried that i might not be able to afford to stay where im living just now if i loose the tax credits i have coming in....especially if the ex family home is not sold by time tax credits migrates to universal credits..which could happen.....if property values and maintenance are taken into account i have funny feeling ill loose my tax credits......
Im not sure if what ive found out is correct or not but it seems to me that some lone parents may be worse off as a result of moving from tax credits to universal credits...........anyone got any idea as to when we will find out when we move to the new system.....or if there are any calculators out there that will confirm what we are likley to receive.......I just want to be prepared......
if the value of ex family home going to effect me as well as maintenance payments....maybe id be as well moving back.....extra costs of travelling might be less than what i would loose out on.....] anyone got any advise or more info on these new credits......

hazelbunny

http://policyinpractice.co.uk/universal-credit/universal-credit-calculator/

LJ1

calculator is quite basic.....from what ive read maintenance payments may be taken into account as income, but no where on calculator to show this.....I wholly understand why the need for Universal Credits.....but I can see situations where by people are going to end up with less money....some people may have mortgages based on the current leval of income they have coming in......I see occassional mentions of some form of transition into the system so no one should be worse off......but very little information on how this is going to work....on top of this i believe it will be paid in arrears........can see a lot of problems ahead for some

zagfles

The transition rules say that if you'd have got more under tax credits than UC you'll get the difference until "a major change of circumstances" or words to that effect. It includes those with savings.

See all the other threads on UC it's been discussed in great depth.