Simple understanding of managed migration please

Newcad

The 12 month disregard is only for savings above £16k that you have when you are migrated.

Savings of between £6K and £16k are treated as normal and an amount will be deducted for them as normal.

If you have less than £16k at migration then the 12 month disregard it isn't needed, and so once on UC if you then go above £16k your entitlement to UC will end immediately, just as it would for everyone else.

(If a migrant with above £16k drops below it in their 12 months then their disregard also ends, and going back over £16k would stop their UC too).

Sorry I can't really comment on the Self Employment interview.
Self Employment in UC is complicated at the best of times, and between you health and retiring soon yours are not standard.
Personally I'd probably play down the retirement angle, but emphasise the fact that you are sending in Fit Notes and awaiting a Work Capability assessment, so should not be expected to be 'building your business' in those circumstances.
(They don't seem to care how close you are to retirement. I'm just 2 years off pension age and am already LCW, but they recently had me in for an interview about going to the JC every fortnight for 'extra support towards finding a suitable job'. I quickly got that daft idea knocked on the head).

Bigwheels1111

My friend had to claim during COVID as work dried up, he was self employed.
With savings over 6k.
He just paid all his debts off, Cleared his mortgage, credit cards, overdraft etc.
They did not see it as depredation of assets.
I don’t know if it would work in your case.

Spoonie_Turtle

Bigwheels1111 said:

My friend had to claim during COVID as work dried up, he was self employed.
With savings over 6k.
He just paid all his debts off, Cleared his mortgage, credit cards, overdraft etc.
They did not see it as depredation of assets.
I don’t know if it would work in your case.

Paying off debts is explicitly not deprivation of capital for UC.  But the OP only has £13 deducted from their UC so really not worth spending savings just for that purpose.

it475

Bigwheels1111 said:

My friend had to claim during COVID as work dried up, he was self employed.
With savings over 6k.
He just paid all his debts off, Cleared his mortgage, credit cards, overdraft etc.
They did not see it as depredation of assets.
I don’t know if it would work in your case.

I don’t have any debts thankfully,I don’t mind receiving less for having more,just wanted to try and get my head round how it all works.