UC and Nationwide £100 fairer share payment

Carefulspender1

I'm wondering if the £100 nationwide payment is required to be declared as income to UC or should I just say my savings have gone up £100 - does anyone have any ideas? I've just spoken to the UC helpline and the lady wasn't sure...then she said no. Her response didn't fill me with confidence and as so many are getting this I'm sure someone on here knows the answer...any advice much appreciated.

poppy12345

It's treated as capital and not income. Unless this takes your total capital to more than £6,000 you do not need to report it. 

Carefulspender1

poppy12345 said:

It's treated as capital and not income. Unless this takes your total capital to more than £6,000 you do not need to report it. 

Great news - thank you for clarifying for me so quickly.

MSE_Petar

Hi both,

We thought this was an interesting question so we put it to the Department for Work and Pensions.

poppy12345 said:

It's treated as capital and not income. Unless this takes your total capital to more than £6,000 you do not need to report it. 

In a nutshell, Poppy12345's summary above is correct – you only need to declare the payment if you now have over £6,000 in capital. Otherwise you don't need to declare it and it won't have any effect on your entitlement. If you live with your partner, bear in mind that their savings/capital also counts towards the £6,000 total.

Thanks,
MSE Petar

HillStreetBlues

It's the same as any rewards you get from a bank

Carefulspender1

MSE_Petar said:

Hi both,

We thought this was an interesting question so we put it to the Department for Work and Pensions.

poppy12345 said:

It's treated as capital and not income. Unless this takes your total capital to more than £6,000 you do not need to report it. 

In a nutshell, Poppy12345's summary above is correct – you only need to declare the payment if you now have over £6,000 in capital. Otherwise you don't need to declare it and it won't have any effect on your entitlement. If you live with your partner, bear in mind that their savings/capital also counts towards the £6,000 total.

Thanks,
MSE Petar

Thanks Peter, it's good to know my question has been helpful for the team.