Tax credit/universal credit

warmy

Hi hi me and my partner currently receive tax credits 1 works full time the other  is unemployed we have just inherited some money.we have two children.
Im also about to be made redundant so am wondering as it will be a change in circumstances would that mean I will be moved to universal credit?.
If that’s the case as we would be over the savings threshold would we not be entitled to universal credit?
would there be anything that we could claim for Due to both persons not working.?
I’m new to this so just wondering what I should do
thanks

calcotti

The inheritance makes no difference to Tax Credits as there are no capital rules for Tax Credits.

poppy12345

If you're claiming working tax credits and you're no longer working then you need to report the changes and your WTC will end.

calcotti

Although, as poppy says, the WTC will end (after 4 weeks) you will continue to be entitled to Child Tax Credit.

warmy

poppy12345 said:

If you're claiming working tax credits and you're no longer working then you need to report the changes and your WTC will end.

We only get WTC as the extra £20 per week due to coronavirus 
Will reporting these changes mean that we will move to universal credit or stay on tax credits?

poppy12345

If you're just claiming WTC and you're no longer working then your tax credits will end after 4 weeks. If you have savings of more than £16,000 you will be excluded from UC because it's a means tested benefit. Do you have dependant children on your tax credits claim?

warmy

poppy12345 said:

If you're just claiming WTC and you're no longer working then your tax credits will end after 4 weeks. If you have savings of more than £16,000 you will be excluded from UC because it's a means tested benefit. Do you have dependant children on your tax credits claim?

Yes we do have children on the tax credits claim 
so I guess I’ll get changed to universal credits from tax credits due to changes in circumstances?

Rubyroobs

You won't get changed to UC just because you are stopping working. your husband is still working, so as long as he is working more than 24 hours a week you are fine to continue claiming WTC. if you are going to be job seeking and have paid sufficient NI contributions over the past 2-3 years then you can claim new style JSA, but do make sure you let tax credits know. 

calcotti

warmy said: We only get WTC as the extra £20 per week due to coronavirus 

Will reporting these changes mean that we will move to universal credit or stay on tax credits?

You mentioned two children in your opening post. Are they not included on your claim? Tax Credits consist of both Working Tax Credits and Child Tax Credits.

Spoonie_Turtle

Just to be clear, there is no 'moving over' or 'being changed to' Universal Credit, not yet and not for a long while (that would be managed migration, something which has basically been a non-starter so far).  No UC claim is made unless you make a claim yourself.

calcotti

Rubyroobs said:..your husband is still working, so as long as he is working more than 24 hours a week you are fine to continue claiming WTC. ..

OP's opening post says 1 in full time work and one unemployed so I read this as when the one in work is made redundant neither will be working.

warmy said: ..I guess I’ll get changed to universal credits from tax credits due to changes in circumstances?

You can't claim UC if you have more than £16,000 of capital (as you said yourself in the opening post).