How much


S

SLF

I am on DLA and Income Support.

How much am I allowed to have in the bank before I have to declare it to
them? I think it maybe £3k but am not 100% sure.

Thanks SLF
 
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R

Robbie

SLF said:
I am on DLA and Income Support.

How much am I allowed to have in the bank before I have to declare it to
them? I think it maybe £3k but am not 100% sure.

Thanks SLF
From April 1 this lower limit increased to £6,000.
 
D

David Richards

Robbie said:
From April 1 this lower limit increased to £6,000.
When the lower limit was £3,000, savings above £2,500 had to be
declared, has this now changed to £5,500.
 
Q

QuickCalc admin

I'd say to tell them regardless of the amount. I've personally never
heard of a threshold for declaring capital. (Been in advice and
benefits training since 1985).

What's the harm? At least if you have a review looking into your circs
you won't look like you have been hiding anything.
 
M

Mike

QuickCalc said:
I'd say to tell them regardless of the amount. I've personally never
heard of a threshold for declaring capital. (Been in advice and
benefits training since 1985).

What's the harm? At least if you have a review looking into your circs
you won't look like you have been hiding anything.
IIRC the IS claim form is the same as the PC and asks how much you have
not 'do you have over' .... Within the information leaflets that
accompany all IS award notifications (so one is issued at the beginning
of the claim and at least once aa year in April), it also tells you what
changes you have to inform the DWP of including when your capital goes
over the £3k threshold. There is no reason to declare capital of under
3k unless specifically asked on a claim or review.

The £2.5k threshold is the point at which the DWP should always seek to
verify the amount of savings declared and conduct annual checks. This
will rise to £5.5k in line with the increase in the threshold

Mike
 
R

Robbie

Mike said:
IIRC the IS claim form is the same as the PC and asks how much you have
not 'do you have over' .... Within the information leaflets that
accompany all IS award notifications (so one is issued at the beginning
of the claim and at least once aa year in April), it also tells you what
changes you have to inform the DWP of including when your capital goes
over the £3k threshold. There is no reason to declare capital of under
3k unless specifically asked on a claim or review.

The £2.5k threshold is the point at which the DWP should always seek to
verify the amount of savings declared and conduct annual checks. This
will rise to £5.5k in line with the increase in the threshold

Mike
Some old A1 and B1 forms used to not only ask if the person had savings
in excess of £3k but also stated that if savings were over £2.5k then to
provide proof of savings, but it may be a number of years since that
statement was on those forms (and of course, there is no B1 form anymore).
 
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Q

QuickCalc admin

Wel i gess yo lern sumfink evri da

Some old A1 and B1 forms used to not only ask if the person had savings
in excess of £3k but also stated that if savings were over £2.5k thento
provide proof of savings, but it may be a number of years since that
statement was on those forms (and of course, there is no B1 form anymore).
 

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