Saving limits
Wellspring
Community member Posts: 3 Listener
Can anyone tell me is they any saving limits for working and child tax credits.. Plz
Thanks in advance
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Comments
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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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