Universal Credit and Stocks / Shares?

joewest1802

Hello,

I have a question regarding trading212 and universal credit.

When I try to sign up to trading212, I apparently have to submit my national insurance number.

I am on universal credit, and I'm trying to find out wether trading212 reports my activity to the government, or wether it is up to me to report it.

Does anyone know if trading212 in any way shares my information with HMRC or DWP?

Will any of my investments, buy orders, sell orders, or money withdrawals in any way be reported or declared to the UK government by trading212?

If it is, how does this work? Is it done when I withdraw funds, or otherwise?

How will HMRC / DWP actually know about any investment earnings?

Thanks in advance

calcotti

If you have income from investments I believe that for UC that income is treated as a change in capital rather than income. Capital only affects UC if the total is more than £6000. Capital does of course include the value of the shares you hold. If you have shares, the value of which takes your capital to more than £6000, and have not disclosed these to UC then you are committing benefit fraud. If capital is over £16,000 then you have no entitlement to UC.

i don’t know but I would expect that HMRC are notified about share transactions and this means that information will be available to DWP at some stage (but not through RTI).

oladapo8

What happens if you had shares worth less than £6000 in an ISA when you opened your UC claim and they subsequently grow to say £40,000 within a year, would the DWP kick you off UC?

oladapo8

What happens if you had shares worth less than £6000 in an ISA when you opened your UC claim(your ISA was included in your claim form worth £5,800 at the time) and they subsequently grow to say £40,000 within a year, would the DWP kick you off UC?

poppy12345

oladapo8 said:

What happens if you had shares worth less than £6000 in an ISA when you opened your UC claim and they subsequently grow to say £40,000 within a year, would the DWP kick you off UC?

oladapo8 said:

What happens if you had shares worth less than £6000 in an ISA when you opened your UC claim(your ISA was included in your claim form worth £5,800 at the time) and they subsequently grow to say £40,000 within a year, would the DWP kick you off UC?

Please start your own thread instead of asking questions on other peoples threads because it causes a lot of confusion.

Do that by using this link. https://forums.moneysavingexpert.com/post/discussion/benefits-tax-credits

jimpwarsop

oladapo8 said:

What happens if you had shares worth less than £6000 in an ISA when you opened your UC claim(your ISA was included in your claim form worth £5,800 at the time) and they subsequently grow to say £40,000 within a year, would the DWP kick you off UC?

Its a change of circumstances, and should be reported.