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Deleted_User said:How much can i keep saved in the bank till they stop my benefits?I’ve heard 16k floating around on this site but I’m not sure. I can’t seem to find an answer on the Gov site, a link would be welcome. Thanks.
Savings over £6,000 are taken into account; for every £250 (or part of £250) £4.35 will be deducted. If your savings are over £6,000 you have to update them at the end of every assessment period if your savings go above or below a multiple of £250.0 -
Deleted_User said:I can’t seem to find an answer on the Gov site, a link would be welcome. Thanks.
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poppy12345 said:Deleted_User said:I can’t seem to find an answer on the Gov site, a link would be welcome. Thanks.0
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Deleted_User said:poppy12345 said:Deleted_User said:I can’t seem to find an answer on the Gov site, a link would be welcome. Thanks."Do not attribute to conspiracy what can adequately be explained by incompetence" - rogerblack1
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Deleted_User said:How much can i keep saved in the bank till they stop my benefits?0
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Grumpy_chap said:Deleted_User said:How much can i keep saved in the bank till they stop my benefits?
Capital in property is counted if the person claiming doesn't live in it.
Any sorts of bonds, crypto, ISAs etc. are counted too.1 -
Spoonie_Turtle said:Grumpy_chap said:Deleted_User said:How much can i keep saved in the bank till they stop my benefits?
Capital in property is counted if the person claiming doesn't live in it.
Any sorts of bonds, crypto, ISAs etc. are counted too.0 -
Spoonie_Turtle said:Grumpy_chap said:Deleted_User said:How much can i keep saved in the bank till they stop my benefits?
Capital in property is counted if the person claiming doesn't live in it.
Any sorts of bonds, crypto, ISAs etc. are counted too.0 -
Deleted_User said:Spoonie_Turtle said:Grumpy_chap said:Deleted_User said:How much can i keep saved in the bank till they stop my benefits?
Capital in property is counted if the person claiming doesn't live in it.
Any sorts of bonds, crypto, ISAs etc. are counted too.Yes it wouldI suggest investing in a 2nd hand car - it can be proved necessary as a way of getting about and may appreciate if you buy a " classic"0 -
Deleted_User said:Spoonie_Turtle said:Grumpy_chap said:Deleted_User said:How much can i keep saved in the bank till they stop my benefits?
Capital in property is counted if the person claiming doesn't live in it.
Any sorts of bonds, crypto, ISAs etc. are counted too.
If you buy gold with your income before it becomes savings then it's technically fine. Unspent income becomes capital in the assessment period after receiving it.
What you do with your income is irrelevant, but you cannot needlessly reduce your savings once you have them, without being treated like you still have them.MouldyOldDough said:Deleted_User said:Spoonie_Turtle said:Grumpy_chap said:Deleted_User said:How much can i keep saved in the bank till they stop my benefits?
Capital in property is counted if the person claiming doesn't live in it.
Any sorts of bonds, crypto, ISAs etc. are counted too.Yes it wouldI suggest investing in a 2nd hand car - it can be proved necessary as a way of getting about and may appreciate if you buy a " classic"
Buying a classic car would also be deprivation of capital if it's more expensive than an ordinary secondhand car that would meet their needs.
There is no way around it except paying off debt, which includes a mortgage, or simply not allowing savings to accumulate in the first place.0
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