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Savings and capital

If you claim Housing Benefit any capital and/or savings could have an impact on the amount you receive.

If you are in receipt of Income Support, Income based Job Seekers Allowance (JSA IB), Income Related Employment and Support Allowance (ESA IR), Guaranteed Pension Credit (GC) or Universal Credit (UC) then any capital and/or savings you have are ignored.

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If you do not get one of the benefits noted above then we will look at the savings of you, your partner and any dependent children:

  • If you are single your own capital and/or savings are taken into account.
  • If you are a couple, the capital and/or savings of you and your partner are taken into account.
  • If your children have any savings and/or capital, this is not usually taken into account.
  • If you are of Working Age or Pension Age and have savings and/or capital of more than £16,000 you can’t get any Housing Benefit. 
  • If you are of Working Age and you have savings and/or capital over £6,000 but below £16,000 then you could get Housing Benefit but it will be reduced by taking an assumed amount of income into account, we call this tariff income.
  • If you are of Pension Age and you have savings and/or capital over £10,000 but below £16,000 then you could get Housing Benefit but it will be reduced by taking an assumed amount of income into account, we call this tariff income.

Savings include things like:

  • Cash
  • Bank, Post Office and/or Building Society accounts.
  • Premium Bonds
  • Savings Certificates
  • Stocks, Shares and Bonds

We do not take into account any savings held in:

  • Pension Schemes
  • Annuities
  • Life insurance
  • Funeral plans for pension age people

Capital includes things like:

  • Property, other than the one you live in
  • Capital that someone else is looking after for you
  • Some payments of income
  • Some arrears payments
  • Some payments made in instalments
  • Capital held outside of the UK or not held in Sterling
  • Business assets when self-employment has ended.
  • Any company you own
  • Any trusts you have
  • Some compensation payments after a certain amount of time

Considering whether certain savings and/or capital affects your entitlement can be complicated so if you are unsure ask us for advice.