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owning ££ on benefits after selling property
funnymonkey
Posts: 260 Forumite
Good afternoon.
Can anyone help me pls.
I currently have a buy to let property which raises a meagre income so thinking of selling.
Im a single dad so get the usual wtc.
I don't benefit from having a btl property as any additional income is taken off my benefits.
Can anyone please advise on if I were to sell is there a cash limit of savings etc before your benefits are affected?
I know it used to be 16k (I'm not un the U.C area yet)
Thank you
Can anyone help me pls.
I currently have a buy to let property which raises a meagre income so thinking of selling.
Im a single dad so get the usual wtc.
I don't benefit from having a btl property as any additional income is taken off my benefits.
Can anyone please advise on if I were to sell is there a cash limit of savings etc before your benefits are affected?
I know it used to be 16k (I'm not un the U.C area yet)
Thank you
0
Comments
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It varies from £6-16k I believe.0
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Savings/capital doesn't affect tax credits unless the interest is over £300. If you don't claim any means tested benefits then the £16,000 limit doesn't affect you.funnymonkey wrote: »Good afternoon.
Can anyone help me pls.
I currently have a buy to let property which raises a meagre income so thinking of selling.
Im a single dad so get the usual wtc.
I don't benefit from having a btl property as any additional income is taken off my benefits.
Can anyone please advise on if I were to sell is there a cash limit of savings etc before your benefits are affected?
I know it used to be 16k (I'm not un the U.C area yet)
Thank you0 -
What benefits are you currently claiming?0
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No impact on tax credits but may have an impact of you later move to UC.0
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