Deprivation of capital question.
fateric
Online Community Member Posts: 2 Listener
Hi, I'm on ESA. If I bought an asset for £3000 and immediately gave it to my mother, I realise it is deprivation of capital. The question is, if that asset increases in value 10 times over time am I still supposed to have the asset at £3000 or £30000?
0
Comments
-
You can have savings up to £6000 without it affecting your ESA claim. Anything above that has to be declared to the DWP.
I'm not sure how to advise you regarding the asset.0 -
I think it would be based on the initial transference, the value of £3000. Conversely if you bought an asset worth £3000 and it reduced in value to £2000 the sum under consideration would still be the initial £3000, if that makes sense, for £3000 is the sum you deprived yourself of.
Whether it was actually deemed as deprivation of capital or not I couldn’t say, perhaps it would be worth asking the DWP about it.1 -
But would she get wrong for accepting said asset0
Categories
- All Categories
- 14.1K Start here and say hello!
- 6.7K Coffee lounge
- 61 Games den
- 1.6K People power
- 88 Community noticeboard
- 21.7K Talk about life
- 5K Everyday life
- 48 Current affairs
- 2.2K Families and carers
- 818 Education and skills
- 1.7K Work
- 426 Money and bills
- 3.3K Housing and independent living
- 879 Transport and travel
- 650 Relationships
- 60 Sex and intimacy
- 1.3K Mental health and wellbeing
- 2.3K Talk about your impairment
- 844 Rare, invisible, and undiagnosed conditions
- 890 Neurological impairments and pain
- 1.9K Cerebral Palsy Network
- 1.1K Autism and neurodiversity
- 35.3K Talk about your benefits
- 5.6K Employment and Support Allowance (ESA)
- 18.4K PIP, DLA, and AA
- 6.4K Universal Credit (UC)
- 5K Benefits and income