Didnt declare savings

Tonytone11

What happens if not all is reported

Mersey_2

I assume you mean you want to admit this before an investigation has found the assets?


Benefits paid will have to be repaid. I can't say whether the DWP/local authority would agree to staged repayments.

Tonytone11

and if the money has been given away?

[Deleted User]

If it's housing benefit, it would be the local authority's decision on what to do.

They will look on it much more favorably if they're being informed, rather than finding out for themselves.

I think the most likely scenario would be that they would want to see statements for their bank account and also the savings accounts, going back to the start of the claim. They'd then work out at what point they would have been entitled (i.e. never if they still have at least £16000 of the savings), and ask for the money back.

I don't think they would agree to a staged repayment if it's clear that they have enough in the savings account to repay it, while not causing hardship.

Of course, if having paid back the incorrectly-claimed housing benefit (and possibly council tax benefit also), they are left with less than £16000 in total, they would be free to make another claim, and start claiming from this point forward.

Re the gift, they couldn't "reclaim" the gift as such, but if, let's say they had £50000 in savings, and they gave £30000 to the grandchildren, so they've got £20000 left - then the council wants a repayment of £25000, then the pensioners might have to go grovelling back to the grandchildren and say they've made a huge mistake. They may also face investigation for possible intentional deprevation of assets. (Getting rid of money on purpose in order to be eligible for a benefit) - if they find that this has occurred, they would be treat the claimants as if they still had the money.

They would be well advised to come clean as soon as possible. Local authorities aren't scary so long as they feel you're playing fair with them. On the flip side, if they feel someone's trying to hide something from them, expect the fraud squad.

Note: this is my own opinion, not that of my employers, and should not be taken as advice. Act on it at your own risk. Do your own research.

stevemLS

"Forgot" they had £50k but declared that they had £8k.

They are going to have to do better than that.

Indie_Kid

Tonytone11 wrote: »

and if the money has been given away?

That would be classed as deprivation and you'd be classed as still having the money.

NYM

Are they your parents/grandparents ?

Have they gifted £30,000 to you ?

Tonytone11 wrote: »

Hello,

I have recent come into 30k.
I would eventually like to buy a house (currently renting £550 a month)
The only debt i have is my car which has £14000 remaining on it (£300 a month with no interest as it was bought new)

How should i best invest this?

I have a isa account already with Lloyds which i know is bad as i currently only get 0.80%

Should i pay the £14000 off on my car? and invest the rest in my isa? or should i put the full 30k in a savings account? since im not paying any interst on my car repayments

Thanks

ohreally

Tonytone11 wrote: »

and if the money has been given away?

Practice repeating "m'lud".

Tonytone11

so if they now reported there savings accuractly whats the chances of the investigators actually looking back?
and is there a time frame how far back they can check?

Londonsu

Tonytone11 wrote: »

Hello

hopefully somebody who knows the law here can help a little

what would happen if two pensioners who currently rent mistakenly forgot to decalre all of there savings eg said have 8k when actually 50k?

For the last few years they have been getting help with paying the rent etc from the goverment.

will they need to pay back £££ all in one go if caught?
If theyhave gifted there grand children X amount can goverment reclaim that gift?


They are very worried about a mistake they made on a form any help be apreciated.

Right its not a question of 'if caught' if the couple are now aware that they had too much savings to qualify for income related benefits they need to make the relevant authorities aware of the situation NOW, it may have been a mistake to start with but now they know it could be construed as fraud if they don't 'come clean'


Not sure if the Government can reclaim the gift as such, however if it is felt that the couple gave away their savings in order to qualify for income based benefits then it could be treated as 'notional capital' in other words they will be treated as if they still have the money.


You don't say how old they are as 'pensioner' can be anything from early 60s (for the female pensioner) or up to 80s 90s in other words it could be argued that someone in their 80s like my Dad (who the family had to help to claim benefits as he didn't understand the forms) may make mistakes but a younger pensioner like my 66 year old husband (who still works) is less likely to be bamboozzled by the system and any 'mistakes' at that age could be scrutinised closely.


The best bet is to admit to the mistake and take it from there, I dont think its likely that the couple will be spending their dotage as a guest of her Majesty its more likely that it will be a overpayment and hopefully this can be sorted quickly and sympathetically

Tonytone11

where do they need to go and report it?