UC How do I kick start a review of my savings

_Jem_

I never declared to UC I had a ISA stocks and shares, I have good enough reason.

I have now updated my savings and I'm obviously getting less UC as I'm over 6k.

I thought by letting them know it would automatically start a review of my savings and when the ISA went over 6k, but no, I even sent a journal message to payments saying I didn't add the ISA when I first claimed UC, I was just told to keep a eye on it each month to make sure I'm not being over or under payed.

They expect you to use that savings instead of getting full UC, I'm absolutely ok with that but what I would like is to know how much I owe them before I start spending the money, if I start using the money I probably won't have enough money later on to pay it back.

Robbie64

How long ago is it since you declared your ISA? If it's recent, it's possible that any overpayment is yet to be calculated. I believe that overpayments are calculated by Debt Management, another part of the DWP, rather than by Universal Credit.

_Jem_

Robbie64 said:

How long ago is it since you declared your ISA? If it's recent, it's possible that any overpayment is yet to be calculated. I believe that overpayments are calculated by Debt Management, another part of the DWP, rather than by Universal Credit.

I updated it on Sunday and on Monday morning I got my UC statement with the reduced UC explaining why it was reduced.

So by updating my savings will it of automatically gone to the Debt Management part of the DWP?

Robbie64

_Jem_ said:

Robbie64 said:

How long ago is it since you declared your ISA? If it's recent, it's possible that any overpayment is yet to be calculated. I believe that overpayments are calculated by Debt Management, another part of the DWP, rather than by Universal Credit.

I updated it on Sunday and on Monday morning I got my UC statement with the reduced UC explaining why it was reduced.

So by updating my savings will it of automatically gone to the Debt Management part of the DWP?

It would need to be referred by UC. I don't know whether that would be manually or automatic. Hopefully someone here will be able to inform you. But if it's very recent it's probably not even been actioned, beyond your UC being recalculated.

_Jem_

Robbie64 said:

_Jem_ said:

Robbie64 said:

How long ago is it since you declared your ISA? If it's recent, it's possible that any overpayment is yet to be calculated. I believe that overpayments are calculated by Debt Management, another part of the DWP, rather than by Universal Credit.

I updated it on Sunday and on Monday morning I got my UC statement with the reduced UC explaining why it was reduced.

So by updating my savings will it of automatically gone to the Debt Management part of the DWP?

It would need to be referred by UC. I don't know whether that would be manually or automatic. Hopefully someone here will be able to inform you. But if it's very recent it's probably not even been actioned, beyond your UC being recalculated.

Hopefully someone will know more, I have things I need to sort out with the money from the ISA but don't want to use it until I know what's going on, I also actually need to move the ISA from a stocks and shares to a Cash ISA, but if I do that now things will get awkward with the DWP regarding evidence of statements.

born_again

_Jem_ said:

Robbie64 said:

How long ago is it since you declared your ISA? If it's recent, it's possible that any overpayment is yet to be calculated. I believe that overpayments are calculated by Debt Management, another part of the DWP, rather than by Universal Credit.

I updated it on Sunday and on Monday morning I got my UC statement with the reduced UC explaining why it was reduced.

So by updating my savings will it of automatically gone to the Debt Management part of the DWP?

Not being funny here.
You said you updated them on the 24 October from a previous thread.

https://forums.moneysavingexpert.com/discussion/comment/81706237/#Comment_81706237

There is also this thread here

https://forums.moneysavingexpert.com/discussion/6637439/uc-declaring-money-in-bank-rent-money/p1

_Jem_

born_again said:

_Jem_ said:

Robbie64 said:

How long ago is it since you declared your ISA? If it's recent, it's possible that any overpayment is yet to be calculated. I believe that overpayments are calculated by Debt Management, another part of the DWP, rather than by Universal Credit.

I updated it on Sunday and on Monday morning I got my UC statement with the reduced UC explaining why it was reduced.

So by updating my savings will it of automatically gone to the Debt Management part of the DWP?

Not being funny here.
You said you updated them on the 24 October from a previous thread.

https://forums.moneysavingexpert.com/discussion/comment/81706237/#Comment_81706237

There is also this thread here

https://forums.moneysavingexpert.com/discussion/6637439/uc-declaring-money-in-bank-rent-money/p1

I did update on the 24th about the ISA but I never updated all my other accounts, So at the weekend on Sunday I did it all my savings plus ISA. As Sunday was the last assessment date 

So in reality everything was updated the weekend just gone.

sammyjammy

So you've now fully declared your accounts including the ISA and they've made a corresponding deduction but did you tell them that you previously exceeded the £6k threshold?  If you didn't then thats what you next need to do, that will trigger the review and overpayment.

_Jem_

sammyjammy said:

So you've now fully declared your accounts including the ISA and they've made a corresponding deduction but did you tell them that you previously exceeded the £6k threshold?  If you didn't then thats what you next need to do, that will trigger the review and overpayment.

No I haven't told them I have previously exceeded 6k as I wouldn't know if I had as I had no previous statements, as it's a stocks and shares. 

Do you think I should write in my journal that I might of previously gone over the £6,000 threshold on the ISA?

kaMelo

_Jem_ said:

sammyjammy said:

So you've now fully declared your accounts including the ISA and they've made a corresponding deduction but did you tell them that you previously exceeded the £6k threshold?  If you didn't then thats what you next need to do, that will trigger the review and overpayment.

No I haven't told them I have previously exceeded 6k as I wouldn't know if I had as I had no previous statements, as it's a stocks and shares. 

The value of your S&S ISA was always available to you if you bothered to look. There should also be quartely/annual statements produced since opening, maybe look into what documents are available in your online account.

_Jem_

kaMelo said:

_Jem_ said:

sammyjammy said:

So you've now fully declared your accounts including the ISA and they've made a corresponding deduction but did you tell them that you previously exceeded the £6k threshold?  If you didn't then thats what you next need to do, that will trigger the review and overpayment.

No I haven't told them I have previously exceeded 6k as I wouldn't know if I had as I had no previous statements, as it's a stocks and shares. 

The value of your S&S ISA was always available to you if you bothered to look. There should also be quartely/annual statements produced since opening, maybe look into what documents are available in your online account.

Nope never had a statement never knew about it. I never set it up myself.

There is no available previous documents online just the current value.

It was a family member who gave me the account number so I installed the app and all I can see is what the current value is.