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ESA Support Group migration to Universal Credit: Questions
- Hfd
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3 weeks 4 days ago #299476 by Hfd
Replied by Hfd on topic ESA Support Group migration to Universal Credit: Questions
Other advice I have been given about the possibility of the first monthly UC payment going over the £6000 is...
"If you received any Cost of Living payments these are excluded permanently from calculating your capital, as long as your money hasn't gone over what you received.
So if that's the case subtract from your bank accounts what you've received.
The amount left is your applicable capital.
Site faviconCost of Living Payments 2022 to 2024
Also, benefit payments are first counted as income, for UC they only count as capital on month 2 (anything unspent).
Month 1 income.
Month 2 capital."
Is this correct? Will i be penalised if the first UC payment sends me over the threshold?
"If you received any Cost of Living payments these are excluded permanently from calculating your capital, as long as your money hasn't gone over what you received.
So if that's the case subtract from your bank accounts what you've received.
The amount left is your applicable capital.
Site faviconCost of Living Payments 2022 to 2024
Also, benefit payments are first counted as income, for UC they only count as capital on month 2 (anything unspent).
Month 1 income.
Month 2 capital."
Is this correct? Will i be penalised if the first UC payment sends me over the threshold?
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3 weeks 4 days ago #299477 by Hfd
Replied by Hfd on topic ESA Support Group migration to Universal Credit: Questions
I had a WCA only last year and the booklet (ESACOC 05/23) that was sent with my award letter clearly states...
"We need to know if the total capital and assets in your household is more than £6000"
"We need to know if the total capital and assets in your household is more than £6000"
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3 weeks 4 days ago #299478 by David
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Replied by David on topic ESA Support Group migration to Universal Credit: Questions
Hi Hfd
I cannot comment on where you source your information but the ultimate authority is the Universal Credit regulations which I quote now -
Assumed yield from capital
72.—(1) A person's capital is to be treated as yielding a monthly income of £4.35 for each £250 in excess of £6,000 and £4.35 for any excess which is not a complete £250.
(2) Paragraph (1) does not apply where the capital is disregarded or the actual income from that capital is taken into account under regulation 66(1)(i) (income from an annuity) or (j) (income from a trust).
(3) Where a person's capital is treated as yielding income, any actual income derived from that capital, for example rental, interest or dividends, is to be treated as part of the person's capital from the day it is due to be paid to the person.
David
I cannot comment on where you source your information but the ultimate authority is the Universal Credit regulations which I quote now -
Assumed yield from capital
72.—(1) A person's capital is to be treated as yielding a monthly income of £4.35 for each £250 in excess of £6,000 and £4.35 for any excess which is not a complete £250.
(2) Paragraph (1) does not apply where the capital is disregarded or the actual income from that capital is taken into account under regulation 66(1)(i) (income from an annuity) or (j) (income from a trust).
(3) Where a person's capital is treated as yielding income, any actual income derived from that capital, for example rental, interest or dividends, is to be treated as part of the person's capital from the day it is due to be paid to the person.
David
Nothing on this board constitutes legal advice - always consult a professional about specific problems
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3 weeks 4 days ago #299480 by Hfd
I don't understand what any of that means and it's implications for me when I switch to UC and get a large payment.
Replied by Hfd on topic ESA Support Group migration to Universal Credit: Questions
Hi Hfd I cannot comment on where you source your information but the ultimate authority is the Universal Credit regulations which I quote now - Assumed yield from capital 72.—(1) A person's capital is to be treated as yielding a monthly income of £4.35 for each £250 in excess of £6,000 and £4.35 for any excess which is not a complete £250. (2) Paragraph (1) does not apply where the capital is disregarded or the actual income from that capital is taken into account under regulation 66(1)(i) (income from an annuity) or (j) (income from a trust). (3) Where a person's capital is treated as yielding income, any actual income derived from that capital, for example rental, interest or dividends, is to be treated as part of the person's capital from the day it is due to be paid to the person. David
I don't understand what any of that means and it's implications for me when I switch to UC and get a large payment.
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3 weeks 4 days ago #299481 by David
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Replied by David on topic ESA Support Group migration to Universal Credit: Questions
Hi Hfd
You need to get help from your local Advice or Welfare Benefits agency. Have you seen this recommendation from our forum member VIA ?
www.benefitsandwork.co.uk/kunena/10-dla-...aged-migration-to-uc
David
You need to get help from your local Advice or Welfare Benefits agency. Have you seen this recommendation from our forum member VIA ?
www.benefitsandwork.co.uk/kunena/10-dla-...aged-migration-to-uc
David
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3 weeks 4 days ago #299482 by Hfd
Replied by Hfd on topic ESA Support Group migration to Universal Credit: Questions
Yes. I have already contacted them. Is it a good idea to contact them again re: the first monthly payment sending me over the 6000 limit before I pay any bills? And if i would be penalised.
My booklet clearly states £6000, David.
My booklet clearly states £6000, David.
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