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Universal Credit savings threshold.
fireitup
Posts: 5 Forumite
I am about to receive a gift of £4000. UC threshold before benefit is reduced is £6000. After my monthly payment of UC and my wage is taken into account my bank balance will now be over £6000. But after the usual spend through the month on bills, food etc my bank balance will be reduced to around £4000 again or lower. Is this something I need to tell the DWP?
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UC takes into account your circumstances at the end of your assessment period. If your bank balance is back below £6,000 by the end of your AP then you don't need to report anything.
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