A landlord on UC

Newcad

Unable to be sold, (various reasons, think of a rented property in probate, or multiple owners one or more of whom is blocking a sale, etc.)

The regulations recognise that these situations may exist so make provisions for rental payments received during them by a UC claimant.

Admittedly such situations are usually complicated and it can be a struggle to get UC to apply those particular regulations correctly.

rosewalk

The value of a rented property can be disregarded if it is Premises occupied by a close relative as their home, where that relative has either:

• Limited capability for work, or

• Reached the qualifying age for Pension Credit

Grumpy_chap

rosewalk said:

The value of a rented property can be disregarded if it is Premises occupied by a close relative as their home, where that relative has either:

• Limited capability for work, or

• Reached the qualifying age for Pension Credit

I can't see that the OP has made any reference to those circumstances applying in this case.

Newcad

I did say:

Newcad said:

Just to clarify, without getting into the OPs previous posts or current circumstances.

born_again

kaMelo said:

If I've read correctly, the inheritance was mums pension pot which, as long as the OP hasn't accessed, would be disregarded as it is a pension pot.

From the linked previous thread.
The pension pot is invested,  I don't want to dwindle it away,

Can anyone actually inherit a pension pot. I thought, as a dependent listed on their pension. You got a payout on their death from their pension?
Not the value of the pot, being passed to you as your pension.

From reading both threads. 
Sounds like there has been no reporting of anything to DWP. 🤷‍♀️ Which given the time poster has been claiming UC 😶‍🌫️

kaMelo

born_again said:

kaMelo said:

If I've read correctly, the inheritance was mums pension pot which, as long as the OP hasn't accessed, would be disregarded as it is a pension pot.

From the linked previous thread.
The pension pot is invested,  I don't want to dwindle it away,

Can anyone actually inherit a pension pot. I thought, as a dependent listed on their pension. You got a payout on their death from their pension?
Not the value of the pot, being passed to you as your pension.

From reading both threads. 
Sounds like there has been no reporting of anything to DWP. 🤷‍♀️ Which given the time poster has been claiming UC 😶‍🌫️

 A defined contribution pension pot, which this is, is passed on as a pension pot to the beneficiary (ies) as determined by the trustees of the pension. Almost always this follows the expression of wishes of the pension holder who has died but they also have to follow the law on wills and intestacy. The pot is transferred to a beneficiaries name for them to do with as they wish within the current rules on pensions.

A defined benefit pension is a wholly different scheme as there isn't a "pension pot" to inherit

Grumpy_chap

kaMelo said:

 A defined contribution pension pot, which this is, is passed on as a pension pot to the beneficiary (ies) as determined by the trustees of the pension. Almost always this follows the expression of wishes of the pension holder who has died but they also have to follow the law on wills and intestacy. The pot is transferred to a beneficiaries name for them to do with as they wish within the current rules on pensions.

Except, in the other thread, it reads as though the pension value is held in some form of cash / investments that is available or could be available to spend as the OP sees fit - whether that be a holiday home or whatever.

Whether the funds are available or held within a pension fund and all the associated restrictions makes a difference from a UC perspective.
That difference probably became moot when the second property was inherited.

Suzycoll

Foxy222 said:

Hi ive been a lurker, this is my first post.
Ill try to be as brief but concise as possible.  
Ive been on income support then switched myself over to UC for about 7 years i was in the support group on IS.
Im a single mum, by that I mean I get no maintenance from the dad. 
Me and child lived with my mum. My mum passed away very suddenly in 2023. I was devastated.  The house i live in is now in just my name. There was no change to report. 
Less than a month later my dad died. I was left his house. He had expressed to me during one of his morbid talks he'd like my child to one day have his property. 
His house was in some state. He didn't have a big pot of money about £3k which was sucked up by the repairs on no time. 
After the crushing grief ive slowly been sorting the house myself, with help of friends. 
I want to rent the property creating an income for myself. It should rent for £1200 a month, minus all the fees ill get £900 ish. 
 Not enough for myself and child. Will I be able to get UC top up or do I just stop it altogether. Does the house count as a disregarded asset as its providing my income? 
 Its really worrying me. 

You must report any 'income' & 2nd properties to DWP/UC

I'm a bit puzzled why you think you would still be entitled to UC ?

APOLOGIES if I missed something 

kaMelo

Grumpy_chap said:

kaMelo said:

 A defined contribution pension pot, which this is, is passed on as a pension pot to the beneficiary (ies) as determined by the trustees of the pension. Almost always this follows the expression of wishes of the pension holder who has died but they also have to follow the law on wills and intestacy. The pot is transferred to a beneficiaries name for them to do with as they wish within the current rules on pensions.

Except, in the other thread, it reads as though the pension value is held in some form of cash / investments that is available or could be available to spend as the OP sees fit - whether that be a holiday home or whatever.

Whether the funds are available or held within a pension fund and all the associated restrictions makes a difference from a UC perspective.
That difference probably became moot when the second property was inherited.

 As an inherited pension pot the beneficiary has options on what to do with it. Assuming the pension was untouched by the OP's mum, and she was under 75 years of age then;

1.The beneficiary could  leave it invested, managing the investment going forward as their own pension.
2.The beneficiary could purchase an annuity
3.The beneficiary could draw the entire pot as a tax free lump sum to spend on anything they wish.

Option 1 would not require anything to be declared.
Option 2 would require the regular income from the annuity to be declared.
Option 3 would require the lump sum be declared once received

Grumpy_chap

kaMelo said:

Grumpy_chap said:

kaMelo said:

 A defined contribution pension pot, which this is, is passed on as a pension pot to the beneficiary (ies) as determined by the trustees of the pension. Almost always this follows the expression of wishes of the pension holder who has died but they also have to follow the law on wills and intestacy. The pot is transferred to a beneficiaries name for them to do with as they wish within the current rules on pensions.

Except, in the other thread, it reads as though the pension value is held in some form of cash / investments that is available or could be available to spend as the OP sees fit - whether that be a holiday home or whatever.

Whether the funds are available or held within a pension fund and all the associated restrictions makes a difference from a UC perspective.
That difference probably became moot when the second property was inherited.

 As an inherited pension pot the beneficiary has options on what to do with it. Assuming the pension was untouched by the OP's mum, and she was under 75 years of age then;

1.The beneficiary could  leave it invested, managing the investment going forward as their own pension.
2.The beneficiary could purchase an annuity
3.The beneficiary could draw the entire pot as a tax free lump sum to spend on anything they wish.

Option 1 would not require anything to be declared.
Option 2 would require the regular income from the annuity to be declared.
Option 3 would require the lump sum be declared once received

Hopefully the OP can confirm how this pension exists.
The previous thread - where the funds were proposed to be used to buy a holiday home - suggest to me that the Option 3 applies.