Saving limits

Wellspring
Wellspring Online Community Member Posts: 4 Listener
in Benefits and income

Can anyone tell me is they any saving limits for working and child tax credits.. Plz

Thanks in advance

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  • poppy123456
    poppy123456 Online Community Member Posts: 63,178 Championing

    No there is not. There are capital/savings limits for Universal Credit (UC) and you'll soon be invited to claim this as part of managed migration.

    If you have capital/savings of more than £16,000 this will be disregarded for 12 months when claiming as part of managed migration. After those 12 months if your capital is still more than £16,000 entitlement to UC will end.

    If during those 12 months your capital drops below £16,000 and then goes above it again, then entitlement will end.

    Capital/savings affect means tested benefits such as housing benefit, council tax reduction, Income Related ESA/JSA, Income Support and UC.

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