Universal Credit
Savings / Capital
Savings/capital between £6,000 and £16,000 will affect the amount of UC a claimant is entitled to.
If a claimant's savings/capital go over £16,000 then they are no longer entitled to any UC.
So if a claimant's (and their partner's ie. joint claimant's) total savings/capital go above one of these key figures ie. above £6.000 or £16,000 then they should report that to the DWP.
If they have savings between £6,000 and £16,000 and these savings fluctuate, then they should report how much savings they have at the end of each Assessment Period. This will ensure the DWP take into account the correct amount when assessing their UC award to prevent being overpaid (if they've increased) and ensure they receive any increase in entitlement (if they're dropped).
Unearned Income