SAVINGS

Georgia63

Hello I was on universal credit LCWRA. But due to coming into some money the day it landed in my account I came off universal credit as it was just over the £16000. So I stopped claiming. That was 12th Dec 2023. Can I claim benefits again as my money is running out now . I have a few savings left but within the next couple of months by the time I pay rent, council tax bills etc I won't have much left. I am worried as someone told me I would have to provide proof and receipts of what I spent the money on but I did not know that at the time it didn't say anything on my universal credit journal. . I gave my son money to live on and pay his rent and bills as he just lost his job and also gave my 3 grandkids money this was all in cash. I suffer with depression and anxiety and it is making me very anxious that I can't claim again. I did the right thing coming off benefits. How much savings are you allowed to claim universal credit. Any help would be much appreciated 

66Mustang

You can claim when you go under £16,000 but you will get less than the full amount

Then you will get the full amount when you go under £6,000

However without trying to judge if you are now under £6,000 and managed to get through 10 grand in just over 4 months that may raise alarm bells and you might be asked to prove what you spent some of the larger sums on

I don't think alarm bells should be raised unless you gave a lot of cash to your relatives, tens or a few hundred should be OK

poppy123456

You will most definitely be asked to provide bank statements. The issue is see here is that you gave away some of your money and this will no doubt be treated as deprivation of capital and you’ll still be treated as having that money. 

When you reclaim UC you will need to be honest and tell them what’s happened because no doubt they will want to know what you did with that money in such a short space of time. 

Capital of more than £6,000 will reduce your UC by £4.35/month for every £250 or part thereof over that amount.