Reporting Universal Credit capital changes

riverafan

Hello all,

Recently my capital went above £6000, so I am getting deducted £4.35 for every £250 I have above the threshold. Fair enough. However, you have to report every time your capital changes by £250, so they know how much to pay you.

How are you realistically supposed to give them an amount? I have a family and expenses are clearly going to make the capital fluctuate often. It's a bit ridiculous you have to tell them every time, but that's past the point.

I don't even know how much the government thinks I have, to be honest, so I don't know how to report it.

I have other benefit payments as well so that really mixes things up. Thing is, you have to disregard all the benefit payments when calculating so that makes it even more confusing.

Does anyone know how to work this? How do you calculate it?

Any help appreciated, thanks.

carbow32

It shows on your monthly statement how much they think you have.

Jimm_Scope

Hey @riverafan, it certainly isn't simple, we do have an advice section about benefits and savings here: Savings and benefits | Disability charity Scope UK

It has different sections that covers a lot about savings, what counts as savings, what can be disregarded etc. There is also a specific section about savings going up and reporting here: Savings and benefits | Disability charity Scope UK

riverafan

Thanks a lot for this!