Shares on universal Credit

ewingoil81

Hi

My company is closing and I'm applying for Universal Credit.  I saw that you have to declare your savings.  I have about £2000 worth of shares as well as some cash savings, do I count the shares as savings or is it just the dividends I need to declare as income?

FIREDreamer

ewingoil81 said:

Hi

My company is closing and I'm applying for Universal Credit.  I saw that you have to declare your savings.  I have about £2000 worth of shares as well as some cash savings, do I count the shares as savings or is it just the dividends I need to declare as income?

You count the shares as capital (savings).

NedS

The shares are treated as capital, so you would include their value when declaring your capital / savings. The dividends are also treated as capital, so you do not need to declare the dividends as income, but if your capital is over £6k then you will need to declare a change whenever the amount changes (such as receiving a dividend payment).

Newcad

ewingoil81 said:

Hi

My company is closing

Is this your own company?

Is it just ceasing trading and the assets realised? In which case as above.
Or is it insolvent and going into liquidation? In which case then any shares should be 'deemed wothless'  anyway.