UC Monthly Assessment & PayPal

Gaz1986

Hi I have over £6000 in my bank so I know I need to declare it every month.
Do I also have to put my PayPal balance?
If so do I still need to declare zero balance PayPal?

HillStreetBlues

Gaz1986 said:

Hi I have over £6000 in my bank so I know I need to declare it every month.
Do I also have to put my PayPal balance?
If so do I still need to declare zero balance PayPal?

You might as well put it down as they might want to have a look at all your accounts and includes PP.
Have you calculated your capital,  not just declaring the monies you have?

Gaz1986

Thanks for the reply.
I have £10,000 in the bank and have zero balance in PayPal.
So when you say you might as well put it down, does that mean it's not compulsory?

HillStreetBlues

Gaz1986 said:

Thanks for the reply.
I have £10,000 in the bank and have zero balance in PayPal.
So when you say you might as well put it down, does that mean it's not compulsory?

It's not because there is no money in it, but in the checks there are currently doing they do ask if a person has a PP account, then you should declare it.
Do you an income each assessment period? eg UC payments, other benefits, wages, if so that need to be deducted from the £10k to give you your capital. If you got any Cost of Living payments and kept them, they can also be taken of the £10k

Gaz1986

Ty for your reply.
Ok hopefully I can explain a bit better.
I have done 3 monthly assessments but I left out PayPal.
They are not asking for any proof for anything.
Yes my wages department declare how much I earn and UC adjust accordingly.
I declare what money I have in the bank Monthly, again UC adjust accordingly.
Now that just leaves my PayPal account.
Do I need to tell them every monthly assessment day or only if they ask for them?
I don't have any other things to declare just the above mentioned.

Gaz1986

Oh by the way I have asked the job centre, but all they said was I'm pretty sure you don't have too.
So that's why I'm asking here as it's still not clear.

HillStreetBlues

If you have over £6k in capital you need to update it every AP if the capital deduction changes. EG if it's £10,350 and changes to £10,450 , there is no need to update as deduction is the same, but it if it goes from £10,450 to £10,550 then you need to inform them.

What is your capital deduction atm?

Gaz1986

My capital deduction is £73.95
I just need to know for sure if I need to tell them about my PayPal account monthly.
Maybe someone on UC can let me know if they put down PayPal details when they do there monthly assessment.

HillStreetBlues

Gaz1986 said:

My capital deduction is £73.95
I just need to know for sure if I need to tell them about my PayPal account monthly.
Maybe someone on UC can let me know if they put down PayPal details when they do there monthly assessment.

The deduction is incorrect and you are paying more than you should if you have about £10,000 in monies.
They have worked it out as your capital is between £10,001 and £10,250
Your income in your AP has not been deducted. and should be reducing your capital.

Gaz1986

My capital is £10,200.
I only put about £10,000 just to round it off as it wasn't my main question.

HillStreetBlues

Gaz1986 said:

My capital is £10,200.
I only put about £10,000 just to round it off as it wasn't my main question.

With UC there is a big difference between capital and the monies in the bank (or elsewhere)
If you have £10,200 in the bank (or elsewhere) that is not your capital.
If you tell me the monies you have, and what your income is than I can tell you what should be deducted. Income will be wages, UC and any other benefits you get in an assessment period.  It seems  you are getting far more deducted than should be.