Savings threshold over the limit

To be clear are you saying that you have just over £6,000 in each account so more than £12,000 in total? Or just over £6,000 in total?

Thanks. Do remember that your UC payment isn’t treated as capital until the end of the following assessment period after you receive it.

If you still have more than that after you deduct this then report a change of circumstances and then click money, savings and investments. Then report it through there.

You’re welcome. Yes it’s very confusing. Also if you received any of the cost of living payments in the past and your capital didn’t drop below the total amount you received they are disregarded indefinitely.

When reporting capital they have now updated the system for people to include details of the cost of living payments. This never used to be there, so it’s good to see they’ve finally amended that.

You're meant to report it when you pass £6k in total. Then UC should calculate the deductions…but that isn't how it's happened with mine so far. It's just been an automated change based on the exact amount I provided.

I am pleased to hear they've now changed it to include the cost of living payments as part of the process. That should make it easier next time I report mine.

There will be a section where you can include the cost of living payments. Although the CoL payment is disregarded (providing you never went below that actual amount of capital) you should still report your capital once you reach £6,001.

There will be a deduction of £4.35/month once your total capital reaches £7,551.

Ok thank u

It's not a box to tick, the system will ask if any of your capital is from the CoL payments.

That's very frustrating because it was supposed to have been completed mid November. 🙄