Basic instruction to declaring U credit money and savings over 6000 gbp

Dinky150

I asked at least 5 times but each time a different uc advisor gave me a different advice hence they are now saying overpayment even tjoigh a breakdown has not beem given.  I have an anxiety and memory block and have noone to ask could someone please give a layman version of when and how and ehst I need to declare as pwtrified of it goung wrong again.

Muttleythefrog

I think you need to be clearer here.

UC advisors are notorious for giving poor or outright incorrect information.

Each month you should declare the level of savings you have if it is over £6000 (or drops below £6000) as U/C is assessed each month at the end of your assessment period. You can declare your change of savings in Home - Report a Change in your U/C account.

I assume you've given them this information and they've reduced your universal credit from when the change happened or they have discovered savings over £6000 not declared when they should have been?

What do you need to know?

peteuk

The limit of £6000 reduced your UC by £4.35 for every £250 or part of there in above £6K.  For example

£6001 - reduction £4.35
£6251 - reduction £8.70
£6501 - reduction £13.05. Etc

Now you have to remember that your wage/uc/any other benefit do not count towards your capitol until your next assessment period.

Also any cost of living payments which you can prove you still have are disregarded.  So for example if you had £1000 in COL and your savings never dipped below £3000 then you can argue £1000 of that savings is COL payments.

Bigwheels1111

I do not understand these questions.

If the 6k limit was going to affect me / my clain, I would make sure I did not get near the 6k limit as such.

My neighbour had this type of issue last month.

They were getting very close to the limit.

I went round to help.

Found out they owed some rent and had a large credit card bill, car service and mot was due.

Was paying rent via credit card, then not paying off in full, so being charged interest on top.

So got them to pay off the debts and service the car.

Issue solved.

No deprivation of assets as far as I understand.

Please correct me if I did wrong, by them.

peteuk

Bigwheels1111 said:

I do not understand these questions.

If the 6k limit was going to affect me / my clain, I would make sure I did not get near the 6k limit as such.

My neighbour had this type of issue last month.

They were getting very close to the limit.

I went round to help.

Found out they owed some rent and had a large credit card bill, car service and mot was due.

Was paying rent via credit card, then not paying off in full, so being charged interest on top.

So got them to pay off the debts and service the car.

Issue solved.

No deprivation of assets as far as I understand.

Please correct me if I did wrong, by them.

Anything under £6K does not need declaring, so deprivation does not come into it.  Equally paying debt such as credit cards, rent arrears, mortgage isn’t classed as deprivation even after the £6K limit is reached.