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ESA and collector's item

Tricia16
Tricia16 Member Posts: 2 Listener
Hello everybody!
Could anyone give me some advice please?  My 35 year old son receives income related ESA and DLA and has been given an expensive collector's item by a grandparent.  Can we assume that he does not have to notify anyone about this unless he sells it (which would push his savings over the £6000 limit?
Thank you.

Comments

  • Sam_Alumni
    Sam_Alumni Scope alumni Posts: 7,676 Disability Gamechanger
    It says on the kingston website

    Assets, savings and capital cover any:
    • property or land (but not your home, your partner’s or an aged or incapacitated relative’s)
    • National Savings Certificates, stocks, shares, bonds and other investments
    • savings in cash or in a bank or building society
    • redundancy pay
    • tax refunds
    • Premium Bonds
    Assets, savings and capital are not:
    • your home
    • sale proceeds of your home (for up to six months if you intend to purchase another home)
    • your business assets if you are self-employed
    • arrears of certain state benefits
    • certain compensation payments
    • a life insurance policy which has not been cashed in
    • personal possessions
    • money from insurance claims in respect of loss or damage to home or personal possessions (for up to six months if used to replace or repair)
    • any Social Fund payment
    Scope
    Senior online community officer
  • Tricia16
    Tricia16 Member Posts: 2 Listener
    Thanks, Sam.  Hopefully this also applies to ESA - the same £16,000 savings limit would make it seem likely.

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