Is paying off a mortage depreciation of capital?

bigbill

What I was trying to say is you can only used your National Insurance Contributions once each tax year to get CBJSA for 6 months, so only one CBJSA claim each tax year, hence the reason I said they would have to wait until the following April with a minimum gap of 13 weeks with no previous CBJSA claim before any new CBJSA claim was submitted.

epitome

bigbill wrote: »

What I was trying to say is you can only used your National Insurance Contributions once each tax year to get CBJSA for 6 months, so only one CBJSA claim each tax year, hence the reason I said they would have to wait until the following April with a minimum gap of 13 weeks with no previous CBJSA claim before any new CBJSA claim was submitted.

Ahhh, I see. But that is not correct. You can have 6 months total JSA C per benefit year. and 12 months total ESA C per benefit year.

A Benefit year runs from the first Sunday in January to the Saturday before the first Sunday in January in the following calandar year.

Each Benefit year will use a different set of tax years to the previous Benefit year.
The 2016 Benefit year uses the tax years 13/14 & 14/15
The 2017 Benefit year uses the tax years 14/15 & 15/16
The 2018 Benefit year uses tax years 15/16 & 16/17

Thank you for replying.

iammumtoone

Bumping up as thread revisited -see amended first post. I am not sure how to change the title?

If I don't pay it off I wont be entitled to UC as have too much capital. If I do pay it off I suspect I wont be entitled due to deprivation of capital.

If I decide to pay it off how long do I have to wait until the deprivation of capital is cleared so I can start a new claim?

WillowCat

iammumtoone wrote: »

Bumping up as thread revisited -see amended first post. I am not sure how to change the title?

If I don't pay it off I wont be entitled to UC as have too much capital. If I do pay it off I suspect I wont be entitled due to deprivation of capital.

If I decide to pay it off how long do I have to wait until the deprivation of capital is cleared so I can start a new claim?

Do you have reason to think that may have to make a universal credit claim in the near future?

Contributions based JSA is not one of the benefits that is being migrated to universal credit, so if you lose your job you can still claim that.

In any case the universal credit regulations for debt repayment are different to the legacy benefits as they do allow debt repayment without it being deprivation of capital.

"H1796 People are not treated as having capital of which they have deprived themselves if
1. it reduces or pays a debt owed by the person "

from https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/618960/admh1.pdf

iammumtoone

WillowCat wrote: »

Do you have reason to think that may have to make a universal credit claim in the near future?

Contributions based JSA is not one of the benefits that is being migrated to universal credit, so if you lose your job you can still claim that.

In any case the universal credit regulations for debt repayment are different to the legacy benefits as they do allow debt repayment without it being deprivation of capital.

"H1796 People are not treated as having capital of which they have deprived themselves if
1. it reduces or pays a debt owed by the person "

from https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/618960/admh1.pdf

My area is going to UC in a few months, however Aliceholt explained to me that as I am currently under tax credits it will be few years before it hits me yet.

Good to know it wouldn't be deprivation of capital anyway.

Thanks