Am I allowed to invest? (UK)

billywilly

Murphybear wrote: »

Because, right or wrong, benefits are often awarded on "entitlement" rather than "need"

If it ever was the case that benefits were awarded on a needs basis, half the claims that are currently being paid out would be shut down!

DLA/PIP/Attendance Allowance/Carers Allowance/Contribution Based JSA & ESA and Industrial Injuries Benefit to name but a few - you can be a millionaire and still be awarded them - many people that claim them don't have a need to do so.

cbrown372

billywilly wrote: »

If it ever was the case that benefits were awarded on a needs basis, half the claims that are currently being paid out would be shut down!

DLA/PIP/Attendance Allowance/Carers Allowance/Contribution Based JSA & ESA and Industrial Injuries Benefit to name but a few - you can be a millionaire and still be awarded them - many people that claim them don't have a need to do so.

Like yourself Andy :beer:

Bozzi

Housing_Benefit_Officer wrote: »

How will we have someone for fraud for having stocks and shares?

As long as they are declared what would be the problem?

But do I need to declare them if it's under £6k? Or only when its over £6k?

rogerblack

Bozzi wrote: »

But do I need to declare them if it's under £6k? Or only when its over £6k?

Your obligation is to tell them if your capital exceeds 6K.
This is your total capital available in all bank accounts and savings, and other things.
It does not include income paid for that benefit period, but once that period is over, that money is counted.

In practice, notifying them once you hit around 5.5K is probably wise, to avoid the possibility of future investigations.

billywilly

cbrown372 wrote: »

Like yourself Andy :beer:

Could I ask you a simple question? Can you point me and everybody else on this site to the last post you made that answered a question?
I just don't see your point of being on here when you clearly are unable to contribute to answering problems posed by others.
Complete waster in my opinion.

cbrown372

billywilly wrote: »

Could I ask you a simple question? Can you point me and everybody else on this site to the last post you made that answered a question?
I just don't see your point of being on here when you clearly are unable to contribute to answering problems posed by others.
Complete waster in my opinion.

Jolly good :beer:

billywilly

cbrown372 wrote: »

Jolly good :beer:

There you go then, you don't and can't. Now we all know that you are the troll who chases people over the many boards on here accusing them of being this Andy as well as posting nonsensical one line comments unrelated to the question under review.Hopefully we can all now have a little bit of peace without your inane comments spoiling the threads.

konark

I had a £1 bond with nationwide building society and that prevented me from claiming income related ESA.

Is that what they told you?

Mersey_2

abrockall wrote: »

I had a £1 bond with nationwide building society and that prevented me from claiming income related ESA.
So for god sake don't do stocks and shares. It might not affect ESA but housing benefit will have you for fraud!

If you can afford to invest why you claiming benefits?

Why do you think that was the case?


As others have said £6,000 in assets - including shares - is allowed for income-based benefits. Do you mean you failed to declare £1?!


It's only potentially fraud if you failed to declare shares.

Bozzi

Cheers for the reply guys, helped much. Decided i'm only going to save a small about as an emergency fund, instead of pouring it into shares, sounds much more sense to me until I'm able to go back to work.