Contribution based esa and savings

twizzle1202
twizzle1202 Online Community Member Posts: 19 Connected
edited January 2024 in Benefits and income
Hello ,
I hope your all having a good day ! 
I have gained interest on my savings due to inflation will this affect my csa and pip !   I know I will have to do a tax return stating so and pay tax on the interest received but does it affect the csa benefit ? Anyone know about this ? 

Thanks for help in advance 

Comments

  • poppy123456
    poppy123456 Online Community Member Posts: 64,456 Championing
    It will not affect your ESA or PIP because both are not means tested.
  • twizzle1202
    twizzle1202 Online Community Member Posts: 19 Connected
    Thanks poppy but I would have to do a tax return won’t I for the tax to be paid on the interest earnt ? And I wouldn’t have to inform dwp ? 
  • twizzle1202
    twizzle1202 Online Community Member Posts: 19 Connected
    poppy123456 said:
    It will not affect your ESA or PIP because both are not means tested.
    Thanks poppy but I would have to do a tax return won’t I for the tax to be paid on the interest earnt ? And I wouldn’t have to inform dwp ? 
  • poppy123456
    poppy123456 Online Community Member Posts: 64,456 Championing
    I'm afraid i can't advise about any Tax returns. As i advised, you will not need to inform DWP about any interest in savings.
  • twizzle1202
    twizzle1202 Online Community Member Posts: 19 Connected
    poppy123456 said:
    I'm afraid i can't advise about any Tax returns. As i advised, you will not need to inform DWP about any interest in savings.
    Thanks again poppy ! I’ll ask accountant regarding tax returns . Just wanted advice regarding the interest on the savings ! Thank you . 

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