We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
help with notional capital when claiming benefits
Options
heidihider
Posts: 13 Forumite
Hello,
I currently claim ESA and Housing Benefit and am due to receive the proceeds from selling my current home very soon. I will be using the money to pay off my debts and to purchase a 30 percent share in a new shared ownership house for me to live in. I am aware of the rules of only having £6000 in savings etc when claiming, but my question is this...If I purchase premium bonds for my 5 year old grandaughter that will be in her name for her to benefit from financially, with any leftover capital, will this be seen as me giving away capital in order to still claim full benefits??
Any help/advice is grea
I currently claim ESA and Housing Benefit and am due to receive the proceeds from selling my current home very soon. I will be using the money to pay off my debts and to purchase a 30 percent share in a new shared ownership house for me to live in. I am aware of the rules of only having £6000 in savings etc when claiming, but my question is this...If I purchase premium bonds for my 5 year old grandaughter that will be in her name for her to benefit from financially, with any leftover capital, will this be seen as me giving away capital in order to still claim full benefits??
Any help/advice is grea
0
Comments
-
You'll be better posting this on the benefits board1
-
Duplicate thread https://forums.moneysavingexpert.com/discussion/6170673/help-with-notional-capital-income-when-claiming-benefits#latest
Answers have been provided on other thread.Information I post is for England unless otherwise stated. Some rules may be different in other parts of UK.1 -
It would be considered deprivation of capital for you to give money away and then continue to claim means tested benefits.heidihider said:Hello,
I currently claim ESA and Housing Benefit and am due to receive the proceeds from selling my current home very soon. I will be using the money to pay off my debts and to purchase a 30 percent share in a new shared ownership house for me to live in. I am aware of the rules of only having £6000 in savings etc when claiming, but my question is this...If I purchase premium bonds for my 5 year old grandaughter that will be in her name for her to benefit from financially, with any leftover capital, will this be seen as me giving away capital in order to still claim full benefits??
Any help/advice is grea
0 -
Already answered on duplicate thread.Rubyroobs said:It would be considered deprivation of capital for you to give money away and then continue to claim means tested benefits.Information I post is for England unless otherwise stated. Some rules may be different in other parts of UK.0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244K Work, Benefits & Business
- 598.9K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards