universal credit

ministox5

Hi, does anybody know if when the universal credit comes in will working tax credit be means tested under this new credit..

princessdon

WTC is means tested now, what info did you require?

Was it Re savings or income?

ministox5

princessdon wrote: »

WTC is means tested now, what info did you require?

Was it Re savings or income?

savings ??

princessdon

Yes it will be.

It will have the same limits as other means tested benefits of 6 - 16K with a taper between those values.

ministox5

princessdon wrote: »

Yes it will be.

It will have the same limits as other means tested benefits of 6 - 16K with a taper between those values.

Thanks:mad:

princessdon

ministox5 wrote: »

Thanks:mad:

To be fair as I said on another thread they had to look at the anomoly. They either needed to remove the threshold from all other benefits in UC or give TC a threshold.

There was only going to be one result really. WTC won't exist, it is one benefit payment.

kaya64

ministox5 wrote: »

Thanks:mad:

just don't put your savings in the bank , i don't trust banks anyway plus i don't have any money to put in the bank :rotfl:

ministox5

kaya64 wrote: »

just don't put your savings in the bank , i don't trust banks anyway plus i don't have any money to put in the bank :rotfl:

Well i got a isa that will be closed tomorrow :eek:

zagfles

There are transitional rules which will protect people with savings, until a "major change of circumstances". See previous discussions on this.

ministox5

zagfles wrote: »

There are transitional rules which will protect people with savings, until a "major change of circumstances". See previous discussions on this.

where will i find that to read please

zagfles

ministox5 wrote: »

where will i find that to read please

See https://forums.moneysavingexpert.com/discussion/4384415 and the linked documents