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Do non-UK savings affect Universal Credit eligibility?
Minimalist1978
Posts: 29 Forumite
I'm largely relying on UC at the moment but I am set to inherit the equivalent of £25k from a deceased relative abroad. If I send that money here to the UK, it will disqualify me from UC as my capital savings will exceed £16,000. If I leave it abroad in a savings account, is that okay?
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No, as the capital is still yours no matter where the location of the money may be.Joss1978 said:I'm largely relying on UC at the moment but I am set to inherit the equivalent of £25k from a deceased relative abroad. If I send that money here to the UK, it will disqualify me from UC as my capital savings will exceed £16,000. If I leave it abroad in a savings account, is that okay?
If that wasn't the case people could just open a savings account abroad put money in that then claim UC.
Let's Be Careful Out There4 -
Joss1978 said:I'm largely relying on UC at the moment but I am set to inherit the equivalent of £25k from a deceased relative abroad. If I send that money here to the UK, it will disqualify me from UC as my capital savings will exceed £16,000. If I leave it abroad in a savings account, is that okay?No.As above, capital is capital wherever it may be. It is your responsibility to accurately report your capital amounts.2
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Do you have any debts that you could use the inheritance to pay off?Information I post is for England unless otherwise stated. Some rules may be different in other parts of UK.1
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No debts, but thanks for the idea. It's okay. I've got the answer to my question.calcotti said:Do you have any debts that you could use the inheritance to pay off?0
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