Universal credit and help to buy isa

[Deleted User]

Hi there,

I wondered if anyone could help. I see Martin’s post on June 2022- advising the government are trying to bring in that you do not have to declare help to buy isa when claiming universal credit- 

And I wondered if this law came in- would I have to declare my help to buy isa account when claiming for universal credit?

Thanks

gravel_2

Doesn't look like it. H2B ISAs are just normal ISAs. They do not seem to get any special treatment under the rules.

Lifetime ISAs are specifically treated and for those under 60 years old 75% of the value is counted as capital
(essentially the total amount less the bonus that only really crystallises when you use the account to buy a property). H2B ISAs have a different bonus mechanism, but if LISAs are still counted as capital, then it makes sense that H2B ISAs will be as well.

Pages 53 and 54. https://assets.publishing.service.gov.uk/media/65d336b3e1bdec2be1322238/admh1.pdf