HB and Premium Bond

brovahelpa

I get some housing benefit.It was first calculated when I had £10.000 in savings 3 years ago. (i am a pensioner) Over the past 3 yrs this has reduced to £7000 when I have had to purchase various things eg computer, Tv, etc. I have never informed the benefits dept coz I didn't want more HB. I'm happy with the help I receive.
I have just won £500 from the Premium Bonds I have. Benefits are aware of the Premium Bonds.
My question is, should I tell them about my win even tho it doesn't make up for monies spent from my savings.
Hope this makes sense.

NYM

I don't think you have to notify them unless your savings go over the £10,000 ?

I've read on this site something about an Assessed Income Period, during which no changes need to be declared.

hopefully, someone will be along shortly that will give you proper advice/information.

dippy3103

Assessed incime periods only apply to those on pension credits.

It would be advisable to report it- it won't change your award but you should really report It

NYM

I just knew I shouldn't have posted ...:o

TELLIT01

Basic rule of thumb - if you're not sure whether or not something should be reported, report it and let the relevant benefit office worry about it beyond that point. Nobody ever got into trouble for providing more information than required.

tea-bag

I am sure it is fine enjoy your winnings

dippy3103

NYM wrote: »

I just knew I shouldn't have posted ...:o

Oh bless you. You seem like a lovely person though x

dippy3103

TELLIT01 wrote: »

Basic rule of thumb - if you're not sure whether or not something should be reported, report it and let the relevant benefit office worry about it beyond that point. Nobody ever got into trouble for providing more information than required.

That's the advice I give to every one- I'm a fraud investigator and often see people that didn't think the change mattered so didn't report it. If you stick to tell its advice & keep proof you reported it you can't go wrong!!

Report every change- if it's not relevant the office will tell you.

McKneff

Don't be daft....
You will probably be better off if you haven't reported the depleting savings,


You've gone down 3k and have only gone up 500,


Stop worrying x

brovahelpa

Thanks so much for replies. I've ordered an ISA statement so as soon as it arrives I will report the win.
Will they want to know what I have spent the £3000 on and will they want to see receipts. I'm not very good at keeping them, and usually throw them once the guarantee is out. This spend is over 3 years.
Also, out of interest, are the benefit office notified by NS&I of Premium Bond winners.
Thanks again for the advice.

eadieb

They are usually only interested in knowing how peoples savings have reduced if firstly you were above the savings limits and then you come down to the point where you are entitled to more. the pensions credit savings limits for housing benefit are
below 10,000 completely ignored
10,000 to 16,000 then they knock some money off what they pay you for every £500 over the 10,000 you are.

so if you started at 10,000 exactly and went down, it wont have any effect on your payments at all. so it is very unlikely that they will be interested in how you spent the money.

Rather than sending in info about the premium bond win and confusing the council, maybe you would be better (once the win has been cashed) sending them a copy of your recent savings account showing the exact amount of money in it.

If they dont already know that your savings went down, their records might currently show you as still having 10,000 and then they might just add the premium bond win onto it, thinking you now have 10500, which would not be correct.

As a side issue, it is always wise to keep a personal note of large spends from your savings (with dates) for if at any point in the future you need to explain them.