Jobseekers allowance -what do they ask for?

dellfanatic

I'm coming to the end of my HE studies and don't have a job lined up as yet - I understand I'm eligible for jobseekers allowance but I'm wondering whether it's too late for me to apply and how I can do it fastest. My term officially finishes at the end of June.

What documentation do they ask for i.e. do they ask for bank statements and for how long?

Also I have a £1000 overdraft balance on my interest free bank account, which I've stoozed into a savings account - that takes my savings to £7000 which is over the £6000 limit - will the outstanding overdraft cancel out the savings balance of £1000? I intend to pay back the overdraft as soon as the interest-free overdraft facility ends...

Thanks guys - hopefully I won't be on JA for long anyway.

ukdickie31

Right then, several issues here.

Your HE studies. Are these Uni or A-levels. There will be an 'official end date' for any Uni courses. You can claim JSA from the official end date of the Uni course.

Are you 19 or under and were studying A-Levels ? If you are / were still in college / 6th form, you may be covered under the Child Benefit rules until September (the rules changed last year). That's a little confusing, depends on a lot of factors. Above my head !

Savings of over £5,500 need to be verified by bank statements. The last 6 months could be asked for. If you do decide to pay off your overdraft from the savings, keep documentation to show that you used it for this purpose. The benefits decision maker will need to see what the money was spent on.

dellfanatic

Thanks - I'm finishing an undergraduate degree, sorry for not mentioning that

So if the savings are below £5,500 I won't need to go to the hassle of providing 6 months of bank statements? I presume they (DWP) can check electronically so why don't they just do that instead of requesting statements, out of interest?

I was planning on following Martin's email tip and moving £1000 into Tesco Savings for 30th June to get 1000 clubcard points. Then shifting the £100 back to clear m'overdraft as the interest-free facility may be scaled down now I'm out of university. Or maybe this bid for clubcard points will just complicate things...

buff-tom

You would still need to provide bank statements at your WFI (basically to check that you haven't got tens of thousands in bank)

Garnet_Gem

If someone produced statements from one bank but had other savings such as ISAs, Premium Bonds and Internet Banking how does the DWP do a check if the person doesn't tell them? Just curious as I wonder how they catch up with people who don't declare all their savings?

healy

HMRC (or Inland Revenue as was) send the DWP details of interest paid on accounts and this can be checked against claimants details.

dellfanatic

If only I could secure a vacany at Tesco Express it'd be so much easier than having to go to the jobcentre every 2 weeks to explain myself. Unfortunately they presently have no vacancies...

Having said that, a job would then mean I pay tax on all my savings interest... ahh my head hurts with all this thinking! :wall:

suelees1

You need to put £3000 into an ISA so you don't pay tax on the interest. It's till classed as savings though

ukdickie31

You can put up to £3000 in Mini Cash ISA's. You don't have to invest the £3000 in one go.

You will still have the interest tax free.

http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1077487692,12362,

dellfanatic

Thanks again. Does anyone know with jobseekers, do I have to actively prove each 2 weeks that I am applying for jobs?

I really fancy a bit of time to myself (3-4 weeks at most) so in that case would it be best not applying for it till later? Or is there a lower rate subsistence paid out in that case?

seven-day-weekend

You do have to prove that you have been looking for work, but this could be answering an advert in the newspaper, phoning for an application form, or sending your CV to various agencies. Keep evidence of having done these.

You will not get JSA (income based) if you are not looking for work.