Low Income - No Benefits or Tax Credits Allowed!!!

8ofspades

My partner and I earn a joint income of ~£25k. While I consider my part of that to be 'low income', I don't consider our joint finances to be low. We are expecting s child next month. Based on your post, I ran our figures through the benefits calculator (we don't have £16k savings, and I didn't even consider we would meet any eligibility for benefits such as UC) - the result was £20 a week UC. I'm not sure where you got £400 a month on a £26k income from, even if it varies from location to location/situation to situation that seems like a high variance.
Either way, both the guidance page and the calculator say you will not be eligible if you have savings over £16k. It's clear.

Carrieanne

Original poster's fatal mistake was to make his savings visible to the government's Eye of Horus. Would have been wiser to forego the 0.0001% interest income of the past 10 years to instead have kept his savings in cash down his sock, under the floorboards or anywhere else beyond the snooper's gaze.

8ofspades

The savings become a bit of a moot point to the OP's post if they've gotten their figures completely wrong.

OP - what does the calculator at https://www.entitledto.co.uk/ say you can get if you didn't have the savings? Because I'm beginning to wonder if this isn't all hot air over a completely imaginary scenario - that you wouldn't be able to get £400 a month without the savings and that people that earn more than you with no savings certainly wouldn't!

KatrinaWaves

Carrieanne wrote: »

Original poster's fatal mistake was to make his savings visible to the government's Eye of Horus. Would have been wiser to forego the 0.0001% interest income of the past 10 years to instead have kept his savings in cash down his sock, under the floorboards or anywhere else beyond the snooper's gaze.

Yes indeed. His fatal mistake was that he didn’t try to commit fraud.

calcotti

8ofspades wrote: »

The savings become a bit of a moot point to the OP's post if they've gotten their figures completely wrong.

OP - what does the calculator at https://www.entitledto.co.uk/ say you can get if you didn't have the savings? Because I'm beginning to wonder if this isn't all hot air over a completely imaginary scenario - that you wouldn't be able to get £400 a month without the savings and that people that earn more than you with no savings certainly wouldn't!

I agree £400/month UC without savings sounds high even if income is down to about £15,000 per annum as a result of wife's £11,000 income disappearing due to maternity. However there would be some entitlement.

Basic Allowance plus one child element = approx £730/month maximum. Earnings of say £1,250. Work Allowance £503. Earnings taken into account £747, therefore earnings deduction = £470. UC payable £260/month. As self employed claimant OP will be subject to Minimum Income Floor of about £1,250/month even if actual earnings are lower.

At £26,000 there wouldn't be any entitlement.

ilovechristmas1

chip away at your savings then and then you will be entitled,oh no i forgot you want benefits plus £16k

you cant have both

people are either entitled to benefits or they are not because they have a large amount of savings. you choose

atlantis187

This is what u get my friend for supporting this nasty party government with their policies of low taxes for the rich and harsh sanctions for the poor.

I completely agree with u you have been very careful with your money and not !!!!ed it all down the drain and now u are being penalised for it.

Just do what the super rich and tory mp's do keep your savings in offshore accounts.

WhenIam64

UC and other (mistakenly titled) benefits are at their heart a form of insurance.

People insure their cars, their homes and their health. Each policy comes with terms which may or may not pay out depending on the rules and the facts.

If you feel the system is wrong, or disadvantages a particular group then you have to a) get elected to Parliament b) sit on the relevant committee and c) get the legislation changed with the agreement of others.

Alternatively you fork out multiple £K for a judicial review to indicate where Parliament was incorrect or misguided in law.

Complaining on a social media site is not yet one of the options of getting things changed.

ROldfield

So a quick update.........

My daughter is coming up to 1 years old and its been tough, my wife is now by at work and I'm looking after my daughter 22 hours a week.
Taking into consideration the my struggles with anxiety and how tiring I feel looking after my daughter I am struggling to balance work with everything else.

My business has slowed down since she's been born and we could more than ever really benefit from the UC we're entitled to but because I won't put my savings into a pension and don't want to spend from my saving (unless I really have to) then it's difficult.

A lot of people are saying I should spend my savings, but why should I?!
I'm a pretty fair and diplomatic person but I really don't think thats fair at all.

I honestly feel penalised by the system and there's nothing we can do or speak to to help us so that's why I opened this chat.

It was about 2 years ago when we calculated UC would give us £400 based on our earnings, this may have changed now, even if it was £50 it would help.

calcotti

ROldfield wrote: »

A lot of people are saying I should spend my savings, but why should I?!
I'm a pretty fair and diplomatic person but I really don't think thats fair at all.

I honestly feel penalised by the system and there's nothing we can do or speak to to help us so that's why I opened this chat.

This is a help forum not a discussion forum (although we do veer off!). If you exceed the savings limit you cannot claim UC. In this respect UC is no different to the previous means tested benefits it has replaced.