Universal credits what’s deemed as savings?

s_trophie

Hi,  I haven't worked since the pandemic and need money. I’m self employed and am hoping to get what the HMRC give out in June. I was told to do universal credit as this has helped many of my friends however, I am in charge of my dads money as he’s old and I sort everything out for him and so my name is on his bank accounts too. I personally don't have £6’000 but with my dads money and mine it’s over £16k with my name being on my dads accounts (Joint account) does that automatically disqualify me to claim? 

He does not live with me if that makes a difference?

Any advice would be helpful.

Jeremy535897

There is guidance in the universal credit rules on this subject. Broadly speaking, if you can show that the money all came from your father, and that it is spent only on your father, you may be able to ignore the account. If you have contributed part of the capital, there may be a partial disregard.

s_trophie

Thanks I have tried to find rules but to no avail. I will look again,

Jeremy535897

There is this in the guidance to decision makers, at :https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/864936/admh1.pdf
Have a look at H1070 onwards.

Grumpy_chap

If you have a power of attorney to assist in your Dad's affairs, that will help demonstrate the money is his and not yours.  (I think there are two types / names for power of attorney now).  If you have just added your name to your Dad's accounts in a less-formal manner, that might complicate things.  Even if it is not an instant help, a power of attorney would be prudent to set up.

Also, UC takes into account your savings, a partner's position, any shares or premium bonds and the value of your business assets.