need to declare funds ? buying home

Computer_Beginner

skorpio555 wrote: »

buying a house with money overseas ( gift from a wealthy parent ) approx 50k
but i am on ESA , if my family transfer these funds to me, will i need to tell ESA or can i just put them into my UK bank for 1 week then transfer to my solicitor ?

obvioulsy ESA would not know about these funds, its not like i worked for them and im using them to buy my house therefore saving on housing benefit etc

Is the house you are buying overseas?
Or are you bringing money from abroad into the UK, to buy a UK house?

Computer_Beginner

skorpio555 wrote: »

" If you don't disclose it they will still find out when the registry updates."

i sent approx 75000 pounds back from vietnam to UK around 9 years ago, straight into my uk bank where it stayed , i flew home few months later and was still to my amazement getting my benefit

Why were you amazed?
Did you think DWP would be constantly checking your account?
Or did you think your bank would tell them?

In theory, this money could transfer could flag up.an alert to HMRC, who link it to your DWP claim via your NI number.

But in reality..?

[Deleted User]

PassingOutInTheParade wrote: »

I was of the understanding that providing the total amount received above the threshold limit (£6k, not quite sure on exact amount) is spent within 6 months on a house to live in, then it shouldn't affect the OP's ESA.

Not too clued-up on it but there was a thread on here not so long back where a DWP rep commented about this subject. The DWP see it as saving on paying out housing benefit.

I'm sure the OP could find the thread if they do a search.

That's not true. The being spent on a house rule only applies to money received from a house sale.

Dad should give the money to the solicitor so it never touches his bank account.

davidmcn

_shel wrote: »

Dad should give the money to the solicitor so it never touches his bank account.

Like I said above, that isn't going to make a difference. If it's in the client account of the OP's solicitor then it's the OP's money.

[Deleted User]

davidmcn wrote: »

Like I said above, that isn't going to make a difference. If it's in the client account of the OP's solicitor then it's the OP's money.

Not if they don't give it to him it's not. Given directly to the solicitor when required to make the deposit doesn't make it his.

Computer_Beginner

davidmcn wrote: »

Like I said above, that isn't going to make a difference. If it's in the client account of the OP's solicitor then it's the OP's money.

I think the thought process, is that by not routing the money through the OP's bank account, it won't get flagged up (by HMRC, DWP etc).

But the £75k went through, without effecting OP's benefits.
So either it wasn't flagged, or DWP didn't care.

Sorry if I've interpreted incorrectly here.

Computer_Beginner

_shel wrote: »

Not if they don't give it to him it's not. Given directly to the solicitor when required to make the deposit doesn't make it his.

Surely the deposit money will 'belong' to whoever the house will 'belong' to?

That would be my opinion, if I was sitting on the jury..

davidmcn

_shel wrote: »

Not if they don't give it to him it's not. Given directly to the solicitor when required to make the deposit doesn't make it his.

Well, whose money do you think it is? Money held in your solicitor's client account on your behalf is yours.

GaleSF63

Computer_Beginner wrote: »

But the £75k went through, without effecting OP's benefits.
So either it wasn't flagged, or DWP didn't care.

That was 9 years ago.

Don't the various organisations do a lot more cross-checking/data matching etc. now?

marliepanda

OP Hasnt made many other posts, well worth looking through them...