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Child savings and Universal Credit
notmeagain
Posts: 3 Newbie
Currently on Child tax credits and Working tax credits, partner is disabled and we have 3 children under 15 with one receiving DLA, I`am a bit concerned when eventually we have to move to UC as the children have about 23k in savings spread over 3 Barclays Children Savings accounts, this money was left to them several years ago by their grandmother, if I understand right these child saving will be taken in to account for our UC claim and as it is over 16k then we will be refused UC, is this correct? if so wondering is there anything I can do so that the kids money is not taken in to account.
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Comments
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May depend on whether you can access the money, and who has beneficial ownership.
Possibly look at transferring to a JISA's (if they aren't already).
Managed migration to UC is likely to be some years ago, and transitional protection may help you.Alice Holt Forest situated some 4 miles south of Farnham forms the most northerly gateway to the South Downs National Park.1
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