Capital Rules for Income Based Benefit

benidorm59

I though I read somewhere that the rules were changing in regard to the amount of capital you can hold and still be able to qualify for income based benefits. I know the limit now is 16k but does anyone know if there are changes in the pipeline and if so dates and new limits, thanks in advance

nannytone_2

i'm not aware of any changes to the capital limit for income related benefits.

the 16k limit is where all entitlement to income related benefit stops, but that taper starts from 6 k onwards ( reducing benefit by £1 for each £250, or part of, over the 6k threshold)

allison445

The only change I am aware of is for people claiming tax credits at present there savings don't count when they are moved over to universal credits there savings will mean they will have money deducted some may even lose there benefits completely although I think there is a transitional period.