Offshore accounts

rabm85

Hello

I was looking for some more information regarding offshore accounts and benefit claims. It’s not clear on the DWP website whether you have to declare an offshore account. Unsure it this counts as savings/is something that needs to be declared as it’s not in the UK. Could anyone advise further?

Thanks in advance.

huckster

Answer the question that is being asked.

If a question asks you to disclose UK savings/investments, you provide UK information.

If a question is non specific and does not mention the UK, then it is about your worldwide information.

If you are ever unsure about any question being asked, phone the helpline number provided by Government or companies.

kingfisherblue

On government forms, it usually asks if you have any other accounts, savings, shares, etc and does not specify that they have to be UK accounts. I would say that they need to be declared, especially if you are claiming means tested benefits.

TELLIT01

ALL accounts have to be declared. Failure to do so for Income Related benefits is making a fraudulent claim. It's not even a faintly grey area.

Afraid_of_Kittens

rabm85 wrote: »

Hello

I was looking for some more information regarding offshore accounts and benefit claims. It’s not clear on the DWP website whether you have to declare an offshore account. Unsure it this counts as savings/is something that needs to be declared as it’s not in the UK. Could anyone advise further?

Thanks in advance.

Yes https://www.telegraph.co.uk/news/uknews/crime/11261025/Mum-who-sent-children-to-Cheltenham-Ladies-College-while-claiming-benefits-is-remanded-in-custody.html

Afraid_of_Kittens

And if you haven't already told HMRC then do it now:-

https://www.gov.uk/government/publications/ten-things-about-offshore-assets-and-income/ten-things-about-offshore-assets-and-income

DCFC79

Just be honest OP, it will come back to bite you if you don't.