deprivation of capital question!

banner188

I have recieved some money from an insurance policy (about £5500).

As I am recieving a small amount of housing benefit I was wondering what the rules are regarding how I could use this money? Can I do what I like with the money or not?
I know it is under the 6k savings limit they have for claiming hb.

[Deleted User]

does the £5500 take you over £6000 when added to existing savings?
if so then you need to inform them,if it doesnt then its ok and you can spend it as you see fit

rogerblack

In addition, if this is money due to an injury, it may be disregarded for a period of time.

banner188

When I get paid from work it would go over 6k, but over the month would go back down due to all the outgoings.

thanks for feedback

rogerblack

Income is separate from capital.

Unspent income turns into capital at the end of the period it is paid for.

However, if your total balance exceeds 6K, it may be worth considering contacting them, so you don't get hit by an incorrect overpayment in the future.