£6000 limit question

Plato93
Plato93 Online Community Member Posts: 8 Listener
in Universal Credit (UC)

Greetings folks,

I won't reiterate my psychological condition as I detailed it quite thoroughly my history with Agoraphobia in my introduction post.

I receive about £276 twice monthly with my New-Style EESA; £183 once monthly UC; and £114 PIP once monthly.

Each month I receive a notification on my Payment tab with information regarding what has been deducted.

As an example, my previous message from them stated:

Money, savings and investments

minus‑ £0.00

We have taken £0.00 off your Universal Credit payment because you have money, savings and investments of £5,817.53.

I'm aware of the £6000 - £16,000 limit, but I was under the impression because they know what is in my bank account, any accidental over £6000 outcomes would just result in an automatic deduction, but I have been reading posts that you have to contact them and inform them if it does do so.

I've just checked my bank balance, and I have about £382 pounds in my Classic account, and £5,794 in my Saver account, which obviously together equals £6,176.

Should I notify them via my journal?

Any advice appreciated.

Comments

  • Kimi87
    Kimi87 Online Community Member Posts: 8,401 Championing

    Did you receive any of the Cost of Living payments?

    If so, and your bank account hasn't gone below the amount you received, they are excluded indefinitely from calculating your UC capital.

    So if you subtract the amount you received from your money, what's left is the applicable capital figure for UC purposes.

  • Plato93
    Plato93 Online Community Member Posts: 8 Listener

    Hello Kimmy87,

    I have received two cost of living payments, but it isn't something that has been payed into recently. 6th February 2024 was the last COL payment I received.

  • Kimi87
    Kimi87 Online Community Member Posts: 8,401 Championing

    It doesn't matter how long ago you received them.

    They are excluded from calculating your UC capital indefinitely, as long as your money didn't go below the amount you received.

  • Plato93
    Plato93 Online Community Member Posts: 8 Listener

    I see.

    I'm obviously posting this as I don't want to suffer any legal complications considering my travel limitations. I've always been completely transparent in my communications with my contacts in my journal.

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