UC savings

Hi2928828292

Hello, 
All I have a question about UC savings 
My son who is 18 years old has withdrawn his child trust fund which is about 10k and is in his bank account. 
Do I need to declare this to UC as I receive child element for him. 

tacpot12

You don't have to declare this to the DWP as he is the legal owner of the money and it is not regarded as your capital. Section H1077 of the DWP's Adivce to Decision Makers confirms that savings belong to a child or qualifying young person are not included in the calculation of your capital. (Your son is a qualifying young person, which is why you receive the child element for him). It won't affect your UC claim. 

Note that if he had to make his own claim for UC, he would need to declare this level of savings and it would affect his claim.

Please encourage your son to use the money wisely as it will take him a long time to save up that sort of capital in future.