Credits on utility bills.

millie.molly.mandy

Does anyone know if any credits held on utility bills and rent accounts and any other bills count as savings which are counted against you when deciding on entitlements.

miduck

Strictly speaking, yes they are, as they are an asset - it is possible for you to realise that asset by asking for a refund. Would the DWP ever look into your affairs that deeply? Unlikely, unless you were transferring massive amounts into the accounts each month.

millie.molly.mandy

So when I fill in any forms I don't technically have to mention it as it's not in a bank account and accumulating interest.

miduck

Technically, you do, it is an asset. In reality, I don't think anybody does.

It really depends on the amounts you are referring to - is it in the hundreds/ thousands, will it put you over the capital limits?

millie.molly.mandy

miduck wrote: »

Technically, you do, it is an asset. In reality, I don't think anybody does.

It really depends on the amounts you are referring to - is it in the hundreds/ thousands, will it put you over the capital limits?

Well I have won some money, and want to put my rent account in credit so I am not affected too much by the room tax. Plus add to my utility bills. Plus I have a couple of credit cards that I only use occasionally so I thought I could top them up with money.

I suppose it would be depreciation of capital but we are not talking about loads of money as I am not frittering it away on rubbish, just trying to avoid the cancelling and re applying of some benefits I will put some in the bank but we are not talking of thousands, but a little over the savings threshold.

princessdon

Is it over £6000?

miduck

millie.molly.mandy wrote: »

Well I have won some money, and want to put my rent account in credit so I am not affected too much by the room tax. Plus add to my utility bills. Plus I have a couple of credit cards that I only use occasionally so I thought I could top them up with money.

I suppose it would be depreciation of capital but we are not talking about loads of money as I am not frittering it away on rubbish, just trying to avoid the cancelling and re applying of some benefits I will put some in the bank but we are not talking of thousands, but a little over the savings threshold.

OK, that is rather more intentional than simply building up credit over time. How much did the win amount to?

millie.molly.mandy

princessdon wrote: »

Is it over £6000?

£8k, I was going to put £5k in the bank and split the rest around, I didn't think money for bills would count as it's something we all have to think about. that's why I am asking.

miduck

millie.molly.mandy wrote: »

£8k, I was going to put £5k in the bank and split the rest around, I didn't think money for bills would count as it's something we all have to think about. that's why I am asking.

Money for future bills counts as capital now. I wouldn't go ahead with your plan - the additional capital will only lose you £8 a week, and this amount will reduce as your capital does. Far better to be honest than be investigated at a later date.

pauletruth

yes it would count. you would be committing fraud. to hide that money. if you had just built up a couple of hundred in your lecky or gas no one would care. what you suggesting is blatantly wrong. arguing that its for future bills wont work.

millie.molly.mandy

pauletruth wrote: »

yes it would count. you would be committing fraud. to hide that money. if you had just built up a couple of hundred in your lecky or gas no one would care. what you suggesting is blatantly wrong. arguing that its for future bills wont work.

Just trying to be practical. Maybe I will just open an ISA in my grandsons name and save all the hassle.