Lottery win on benefits?

Francis1980
Francis1980 Posts: 40 Forumite
in Benefits & tax credits
What would happen if say, you were on IS and you had a win on the lottery that didn't take you over the threshold. e.g. you had £2,000 and won £1,000. Do you get to keep your winnings or will the DWP take the winnings off your IS?
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Comments

  • real1314
    real1314 Posts: 4,432 Forumite
    Nothing happens. You've gained capital. Not income.
  • Broken_hearted
    Broken_hearted Posts: 9,553 Forumite
    I'd pay it straight off the debts so in reality had nothing as I'm still in debt.
    Barclaycard 3800

    Nothing to do but hibernate till spring
  • alcozar
    alcozar Posts: 9 Forumite
    I wouldn't let the benefits people know about the wins, its the same sort of thing as a win on a fruit machine, cash that is nothing to do with them.
  • tigtag02
    tigtag02 Posts: 6,857 Forumite
    Part of the Furniture Combo Breaker
    And here we have another honest new poster :rolleyes:
    :heartpuls baby no3 due 16th November :heartpuls
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  • Benefits_Blagger
    Benefits_Blagger Posts: 537 Forumite
    Francis1980 wrote: »
    What would happen if say, you were on IS and you had a win on the lottery that didn't take you over the threshold. e.g. you had £2,000 and won £1,000. Do you get to keep your winnings or will the DWP take the winnings off your IS?

    dont inform them, but keep all reciepts and proof of your win, or otherwise they will be convinced its money you have earned.

    money you win, doesnt affect any benefits unless it takes you over the threshold for means tested benefit.
  • Francis1980
    Francis1980 Posts: 40 Forumite
    ok thx all
  • mum2one
    mum2one Posts: 16,279 Forumite
    Xmas Saver!
    if the sum of money won and your savings come to under £8,000 you keep it all, berween £8,001 and £16,000 this affects your benefits, over 16k and you lose your benefir claim.
    xx rip dad... we had our ups and downs but we’re always be family xx
  • healy
    healy Posts: 5,292 Forumite
    Part of the Furniture 1,000 Posts
    mum2one wrote: »
    if the sum of money won and your savings come to under £8,000 you keep it all, berween £8,001 and £16,000 this affects your benefits, over 16k and you lose your benefir claim.

    The lower capital limit is £6000 NOT £8000.
  • mum2one
    mum2one Posts: 16,279 Forumite
    Xmas Saver!
    healy wrote: »
    The lower capital limit is £6000 NOT £8000.

    When I had compensation from my court case in 2005, I checkedand I was told it had just increased from 3k to8k that was by DHSS staff
    xx rip dad... we had our ups and downs but we’re always be family xx
  • healy
    healy Posts: 5,292 Forumite
    Part of the Furniture 1,000 Posts
    mum2one wrote: »
    When I had compensation from my court case in 2005, I checkedand I was told it had just increased from 3k to8k that was by DHSS staff

    That is incorrect, the lower capital limit increased from 3K to 6k.
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