Comp received. Do I lose my benefits

surfingruthie1

I've received a payout of Injury comp for £16500. I'm currently unable to work due to mental health and I'm on universal credit and pip to the amount of £849. When I get this money will I lose out on my benefits as its over the 16K threshold. 
Thanks. 

calcotti

Options
1) if you have any debt to pay, just immediately pay off some debt after getting the compensation and this will get the capital down before the end of the monthly UC assessment period and that will reduce your capital. Paying off debt is never treated as deprivation.
or
2) immediately spend some capital needed for some need and reduce the capital before the end of the monthly UC assessment period.
or
2) if the payment is an injury compensation the money can possibly be put into a trust and the money is then ignored. See
https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1136904/admh2.pdf#page6

Paragraph H2028 to H2030.

HillStreetBlues

Also if injury compensation  will be ignored for a year, even if you don't set up a trust.
So you have 12 months from when you got it to get below £16,000

See calcotti's link  for 12 month disreguard

calcotti

HillStreetBlues said:

Also if injury compensation  will be ignored for a year, even if you don't set up a trust.
So you have 12 months from when you got it to get below £16,000

See calcotti's link  for 12 month disreguard

Thanks HillStreetBlues I forgot to include the 12 month disregard.
Paragraph H2094 applies.
Process is therefore that its ignored for up to 12 months. If claimant expects not to have downloaded the figure during that twelve month period they can convert the capital into a trust during that 12 month period so that the trust is in place before the end of the 12th month.

peteuk

Wont effect your PIP, just your UC as advised above.