Universal Credit and capital more than £16,000

HillStreetBlues

born_again said:

HillStreetBlues said:

ElwoodBlues said:

How would DWP find out about it if the claimant doesn't declare it? The proposed future changes to give them direct access to claimant's bank account would facilitate it, but at the moment I thought they could only get access that kind of info if there was an investigation opened?

If money is in a ISA then the tax man shares information with the DWP, they also have methods of checking some inheritance. 

All savings are reported by banks, for interest & possible tax payable to HMRC, so same would go for any bank account that paid interest.

AFAIK  they work slightly differently,  HMRC needs to know the amount a person holds in an ISA as there are limits to how much that person can have.
With a savings account  all HMRC needs to know is the interest, not the amount held.