When capital is treated as income for UC purposes. UC reg 46 (3)

5blueskies

Hi everyone, I'm new to UC and this forum, and would appreciate your thoughts and comments.

My partner & I recently migrated to UC from WTC, so we have a transitional capital disregard for 12 assessment periods. I have a cash ISA where interest is paid daily into the account.

ADM Chapter H5: unearned income, H5100 says
 Any sums that are paid
1. regularly and
2. with reference to a period of time
have to be treated as income even if they would normally be regarded as capital or as having a capital element.

 The example they give is where the claimant is the beneficiary of payments under an annuity,as the payments are paid to the claimant once a year,they say the payments are treated as payments of income and are taken fully into account when calculating the award of UC.

Will the interest I receive from my cash ISA each assessment period, be treated as unearned income and be deducted pound for pound from our UC award?

huckster

No interest on cash ISA is not a form of income. It is an investment and interest would increase capital.