ESA and collector's item
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Tricia16
Community 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.
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
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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
- 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 -
Thanks, Sam. Hopefully this also applies to ESA - the same £16,000 savings limit would make it seem likely.
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