Any savings below 6,000 does it count towards uc

bigaxedwarf
bigaxedwarf Online Community Member Posts: 76 Listener
edited December 2022 in Benefits and income
Hi guys what the savings limit any savings below 6,000 does it count towards uc does my friend still have to tell them 

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  • poppy123456
    poppy123456 Online Community Member Posts: 64,463 Championing
    Savings/capital of less than £6,000 is ignored and you do not need to tell then you have this money. For every £250 or part there of over this amount there's a £4.35 per week deduction in UC.
    For council tax reduction all local Authories have their own rules and some have a maximum savings limit of £6,000 before council tax reduction ends.
  • calcotti
    calcotti Online Community Member Posts: 10,001 Championing
    There are two savings/capital thresholds.
    Anything over £16,000 means someone (or a couple) are not eligible to claim.
    Anything over £6,000 reduces the UC payable reduces the UC payable by £4.35/month for every £250, or part thereof, over £6,000. 
    Anything up to £6,000 is ignored.
    You are asked about capital when you apply.
    If you below £6,000 you not need to report changes that result in a total amount that does not exceed £6,000.
    It is the amount on the last day of your UC assessment period that matters.

  • bigaxedwarf
    bigaxedwarf Online Community Member Posts: 76 Listener
    Thank you so if it’s below 6,000 she doesn’t need to tell dwp? She has told them about other savings though 
  • poppy123456
    poppy123456 Online Community Member Posts: 64,463 Championing
    bigaxedwarf said:
    Thank you so if it’s below 6,000 she doesn’t need to tell dwp? She has told them about other savings though 

    No, not if all of her savings are below £6,000.
  • bigaxedwarf
    bigaxedwarf Online Community Member Posts: 76 Listener
    Thank you all so much for your help 

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