Hi, advice appreciated regarding borrowing from family while on ESA
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dedee85
Online Community Member Posts: 2 Listener
Hi helpful people. Thank you for your time and all the help and advice you've given people over the years.
I've just started permitted work as a self employed trader but my funds are very low. Would a family member loaning me money to help get started be permitted while receiving Income Based ESA? The sum will possibly be £2000. Would this be seen as income and cause a breach of the weekly earning limit?
Thank you in advance
I've just started permitted work as a self employed trader but my funds are very low. Would a family member loaning me money to help get started be permitted while receiving Income Based ESA? The sum will possibly be £2000. Would this be seen as income and cause a breach of the weekly earning limit?
Thank you in advance
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Comments
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It will not be classed as income. It will be classed as capital and if it increases your total savings to more than £6,000 then your means tested benefits will reduce by £1 for every £250 over that amount. Anything over £16,000 and entitlement to means tested benefits end.
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Thank you Poppy
Should I contact the Job Centre and explain why a large sum has entered my account?0 -
No, there’s no need to do this if it doesn’t take your total savings over the allowed amount, as advised.0
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