Will money from selling/buying house affect benefits?

quietlikeafish

Hi,

I'm moving house soon - selling my home to purchase and move into another.
The house I'm buying is a bit cheaper than the one I'm selling but all of this money is going to a builder as it needs some work done.
As soon as this money goes into my account it will be paid to the builder.
I receive tax credits (both working and child) and council tax benefit.
Will it affect either of these?
Many thanks!

calcotti

Tax Credits have no capital limits so no impact on these.

For Council Tax Benefit each Council can set its own rules so you will have to check the details for your local authority. If you breach the level at which capital is taken into account you will have to inform your local authority but there may be a disregard for capital received from a house sale which is intended for essential home improvements.