Refund on PPI

Avocoa

Apologies if this subject has already been covered.  I just need to check it first

I have received a refund from my bank for my PPI charges on my Credit Card which is great as I was expecting anything.  However I have a query, I am currently claiming Universal Credit and need to know if I need to declare it and would it affect anything

brettcta

More than likely but you’d be better off checking with DWP or whoever it is that’s responsible for paying universal credit these days

jonesey1985

brettcta said:

More than likely but you’d be better off checking with DWP or whoever it is that’s responsible for paying universal credit these days

Not more than likely but certainly if it takes the OP's entire capital amount over £6000.

If it does not, then they do not.  A refund is not income.

Avocoa

Sorry I'm a bit confused.  Are you saying that I don't have to tell them if it's less than £500 or do I need to tell them.  Second is a ppi refund not classed as income for Univeral Credit purposes. Although I have already paid tax on it but have had that refunded In the final amount paid to me

Avocoa

Just a quick update on this. I have spoken to the DWP this morning and been told it is classed as Non Working Income but classed as Capitol.  As because it is a one of payment not a regular income, if you have more than £6000 in savings depending on how much you get would affect your entitlement to certain benefits.  Hope that helps if anyone else has query with this