Housing Systems: Combating poverty and sustaining tenancies.
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How Much: Savings/Capital
KEY FACTS

  • If a claimant (and joint claimant ie partner) have over £16,000* in savings/capital then they are not entitled to claim Universal Credit (Reg 18, UC Regs 2013).
  • If a Universal Credit claimant (and joint claimant ie partner) find that their savings increase and at the end of a Monthly Assessment Period they have more than £16,000 in savings, then they will not be entitled to any Universal Credit for the whole of that month and their Universal Credit claim will be brought to an end (special rules apply if they increase due to unspent income).
  • If a Universal Credit claimant (and joint claimant ie partner) have between £6,000 and £16,000 in savings this will affect the amount of Universal Credit they are entitled to. This is because the DWP will work out an assumed income from them.
  • Some kinds of savings/capital are ignored.
  • Some savings/capital are treated as income. And some income is treated as savings/capital.
  • There are particular issues where the claimant (or joint claimant ie partner) own a property.
  • In some circumstances the DWP can treat a claimant as having savings/capital they do not have - called notional capital.

Click on the links below for more information.

* Unless they manage migrated onto UC and are entitled to the 'Transitional Capital Disregard' - click here.